Taseko loses bid for injunction against blockaders
2011-12-02 20:17 ET - Street Wire
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by Mike Caswell
Taseko Mines Ltd. has lost its application for an injunction in the Supreme Court of British Columbia against a group of Indian blockaders who were preventing the company from accessing its Prosperity project. In a ruling handed down on Friday, Dec. 2, Justice Christopher Grauer has instead granted an application by the Tsilhqotin Nation for a judicial review of a Taseko work permit. While he acknowledged that Taseko will likely end up doing most or all of the work it sought to perform, he said a slight delay is justified to ensure adequate consultation with the Tsilhqotin.
In his ruling, the judge characterized such consultations as the "cost of doing business" in Canada. He said that Taseko and the Tsilhqotin Nation could be in a relationship for many years to come, and it is in everybody's best interest to ensure that appropriate accommodation is made, even if it means a delay of a few months. "The ore bed is not going anywhere," he told the court.
Taseko had initially argued that it only had 12 months to complete its work, but the judge found that the evidence did not show such urgency. He accepted the Tsilhqotin's argument that the work, which is for a second environmental study on the Prosperity mine, does not have a specific deadline. The judge also found that the possibility of damage to the Tsilhqotin, in the form of losing their right to be consulted, justifies a delay.
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This is the main problem of natural resources companies in Canada. The Supreme Court handed down 4 or 5 recent decisions very favorable to the Native accross the Country on the right to accomodation and consultation. The provinces, BC, Quebec, Ontario and others act if Federal Courts have no jurisdiction on the Provincial Crown Land.
The Provinces are the first to issue permits to the Companies we are investing in. They should issue flawless permits, permits that will hold during the federal process. (that means consulting the Natives, and accomodating them) Instead, they hand out corrupted permits, made by incompetent and stuborn civil servant who promise to the Companies that they are on the companies side when in fact its either ignorance, massive incompetence or plain out racism that is their motivation.
As shareholders, who will compensate us for these civil servants short coming?
Frank
Posted by Frank at 2011-12-03 17:34
Very occasionally an exploration company actually manages to leap over all the barriers, and crawl through all the hoops, so that a new mining project is actually completed, thereby providing a useful product, and facilitating tax revenue and jobs for B.C. in the process. The jobs support individuals and families, and the tax revenue helps to support the services demanded from government by the people, including the people blockading development. Too bad that the key word here ia "occasionally.'
Compared to B.C., which research has shown to be far down the list of jurisdictions favorable to mining development, Quebec is near the top of friendly jurisdictions. That has been a long ongoing situation. One wonders why exploration companies continue to waste their resources and the resources of their shareholders fighting the odds in B.C., when their efforts would be welcomed in other friendly jurisdictions.
In other, blunt terms, get with the program. Abandon B.C.forever, and spend your most valued time and effort somewhere else, where you are welcome to do business. Like the learned honorable justice said, the ore body will not go away. So, just let it rest quietly there forever, and we can all make our livings by just breathing in this pristine, unblemished B.C. scenery-a rather skinny diet, but one which pleases so many B.C. citizens.
Dave
Posted by Dave Colonel at 2011-12-03 23:49
Another nail in the coffin of mining in B.C. - the cost of business mounts with each decision. Having a project in B.C. makes you a laughing stock in the investment community. I throw my hands up and disgust and walk away. Mr. Judge, the ore might always be there but without a positive investment climate there is no guarantee this mine will be built. Congratulations to the First Nations blockaders. Continue to block project and force you brothers and sisters to live in poverty without hope of a real job. I am sure that the silent majority of First Nations will one day wake up and realize that they will be stuck on the federal dole forever if they allow the minority to throw roadblocks up against every project.
Posted by Send Money South at 2011-12-04 02:18
The BC Government (Liberal) says the mine is a glorious go. The Federal government says it's an ugh! The BC government says that the ugh factor must be reviewed, as the ugh will hugely benefit all British Columbians.
A review of Stockwatch's database and Elections BC's contributors' contributions database shows that the following, all participants in Taseko's company record, contributed $1,230,273 to the BC Liberal Party since Elections BC started revealing contributions in 2005.
Heap big pile of wampum, huh? And this doesn't look at director/cross-directorship contributions, if there are any.
TASEKO MINES LTD $33,650.00
AMARC RESOURCES $7,500.00
BCMETALS CORPORATION $7,650.00
COPPER MOUNTAIN MINING $3,000.00
DUNDEE SECURITIES CORPORATION $62,639.40
HAYWOOD SECURITIES INC $271,200.00
HUNTER DICKINSON INC $14,480.00
AL-NASHIR K JIWA $1,500.00
LEDCOR CMI LTD et al $68,000.00
BMO NESBITT BURNS INC $49,000.00
NORTHERN DYNASTY MINERALS LIMITED $11,000.00
PACIFIC INTERNATIONAL SECURITIES INC $8,980.00
TECK COMINCO $633,174.00
UNITED MINERAL SERVICES LTD $50,000.00
WOLVERTON SECURITIES LTD. $8,500.00
Posted by Harpinder at 2011-12-04 16:03
The list of contributors to the B.C. Liberal Party is immaterial to the issue at hand and has absolutely nothing to do with the very simple fact that this province needs investment, tax revenue and jobs. Of course, some citizens do not need jobs since they live off government (working tax payers) largesse.
Many of us are sick and tired of the various shenanigans coming from the Liberals in B.C., but maybe someone could explain just how publishing the list of legal contibutors will help to put bread on the table for British Columbians.
Wampum or no wampum, investment or no investment, jobs or no jobs, tax revenue or no tax revenue, bread or no bread. People, make up your minds.
Once you kill the goose, you will not gather any eggs, will you?
Dave
maybe someone could explain just how publishing the list of legal contibutors will help to put bread on the table for British Columbians?
Perhaps someone speak with forked tongue? My recollection is that the Canada Revenue Agency allows a $500 maximum deductible from taxable income per year for contributions to provincial political parties.
How does that reconcile with Teck's $633,174 contribution to the BC Liberal Party?
Since January 1, 2005, Elections BC shows that $57,771,058.19 has been contributed to the BC Liberal Party.
Care to take a guess at how many jobs or how much bread on the table for British Columbians that $57,771,058.19 would have created/provided if it weren't diverted to the BC Liberal Party (which is largesse, is it not?).
Posted by harpinder at 2011-12-04 22:47
They were consulted, they just didnt like the outcome. They dont get a veto. Poor decision I hope is appealed
Posted by BS at 2011-12-05 10:33
Let's keep our eyes on the ball here.
Investment
Jobs
Tax revenue
Government services.
B.C. is a province established as being unfriendly to mining investment. That is fact.
What about Kemess North, killed, so then Northgate took its marbles to Australia?
What about major developments on the northwest coast some years ago, when a grand new park was established, killing investment in that area?
Yes, B.C. is known as a pleasant place to live, but if for no other reason, mine exploration executives owe it to their shareholders to develop where they are not pariahs as in B.C., where they are welcome, and leave B.C. citizens choking on the dust raised by green power, blockades, and blinkered courts.
Dave
Once again mining in this province is dead as is any activity that may occur on land the Indians claim. Since the Indians dont want to work it appears nobody else should either. The money will just keep falling from heaven I guess.
Posted by Jello has no bones at 2011-12-05 12:22
How can anyone say that BC is unfriendly to mining investment? Did not the BC Liberal Party welcome the $1,230,273 which came from the Taseko participants?
Do not the executives of publicly traded industries, whether mining, forestry or what-have-you, owe it to their shareholders to use the shareholders' money for investment, revenue- and job-creation purposes?
IMO, the shareholders of the publicly traded companies which contributed a goodly portion of that $57,771,058.19 to the BC Liberal Party must now be choking on the realization that the money was not used for growth, profit generation or dividends.
Posted by harpinder at 2011-12-05 12:42
Despite all the hand wringing, investors "forget" that Prosperity is a marginal project. Only if you assume gold will remain at elevated levels for decades (I don't) then Prosperity is a marginal project. What Taseko investors ignore is that for a fraction of the cost, Taseko should have instead bought out Copper Mountain - who's property was fully permitted and now in production, with a mine that looks to be in production for 50 years. But no. "Top" management ignored the obvious and instead continues to push their internally generated project so they can all look like heroes - to the detriment of shareholders.
Posted by ro n at 2011-12-05 15:28
This is the main problem of natural resources companies in Canada. The Supreme Court handed down 4 or 5 recent decisions very favorable to the Native accross the Country on the right to accomodation and consultation. The provinces, BC, Quebec, Ontario and others act if Federal Courts have no jurisdiction on the Provincial Crown Land.
The Provinces are the first to issue permits to the Companies we are investing in. They should issue flawless permits, permits that will hold during the federal process. (that means consulting the Natives, and accomodating them) Instead, they hand out corrupted permits, made by incompetent and stuborn civil servant who promise to the Companies that they are on the companies side when in fact its either ignorance, massive incompetence or plain out racism that is their motivation.
As shareholders, who will compensate us for these civil servants short coming?
Frank
Posted by Frank at 2011-12-05 17:55
The Canadian Constitution Acts in Section 92A gives the Canadian provinces exclusive authority to make laws and regulations concerning the extraction of natural resources. Those people who would rather trust the far away and isolated federal people do not like this aspect. Too bad. That is supposed to be the law for law abiding citizens. Unfortunatley all or most governments themselves have been busy sticking their noses into jurisdictions in which they have no constitutional authority.
Some of us believe that the Supreme Court, when it mandated "consultation," interfeered with the exclusive rights given to the provinces under the Canadian Constitution.
But, that is not the argument, anyway. The argument is simply that all mining exploration companies should simply give up on B.C. immediately, and move their resources to jurisdictions where they are welcome. Between the massive green power movement and the blockaders in this province, the odds are extremely low of succeeding in a timely endeavour in B.C.
Get out now. Spend your valued resources where the people still understand the value of a dollar. The post before this one from Frank best demonstrates the proof of this argument.
Great...
This artical has helped me save time... I wont be doing any business in B.C. Or ever ever making any political contributions to any going government concern. Keep shooting yourselfs in the foot BC. Another example of the government mis-management.
Posted by Tolson Tax Payer. at 2011-12-07 10:23
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