Taseko expects to benefit from BC’s power cost deferral programme
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.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation