https://www.miningweekly.com

Taseko expects to benefit from BC’s power cost deferral programme

9th February 2016

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Base metals producer Taseko Mines expects to benefit from recently announced planned support for struggling mining companies in British Columbia.

Premier Christy Clark recently revealed that government was working on a plan to enable struggling mining companies to defer some of their “very considerable” electricity costs until mineral prices had rebounded.

Taseko, which owns Gibraltar copper/molybdenum mine in the province, on Tuesday announced that it expected to benefit from a five-year power rate deferral programme announced by the government of British Columbia.

"Electricity is one of Gibraltar's most significant expenses, accounting for nearly 10% of the mine's total operating costs. This cost deferral programme has the potential to reduce Gibraltar's annual spending by up to $20-million, or roughly C$0.15/lb of copper production, at the current copper price of about $2.10/lb, effective this month,” advised Taseko president and CEO Russell Hallbauer.

Meanwhile, details of the programme that would be delivered through the province's crown corporation BC Hydro, were still to be disclosed.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Projects

Image of lithium ore stockpile
Lithium conversion plant, Australia
Updated 1 hour 23 minutes ago By: Sheila Barradas
Aerial view of the Amapá mine
Amapá iron-ore project, Brazil
Updated 1 hour 23 minutes ago By: Sheila Barradas

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.103 0.139s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: