Taseko Mine's Plans For Copper-Gold Project Still Under Scrutiny

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Taseko Mine submitted revised plans for their New Prosperity copper-gold project in British Columbia, but  a Canadian federal review panel said the project “still poses significant threats to the environment and nearby communities,” reports Reuters.

“The panel made several recommendations if the project does get approved, among them urging Taseko to re-route a transmission line to avoid areas of cultural significance to an Aboriginal group.”

“CIBC analyst Tom Meyer estimates the development of New Prosperity could cost C$1.8 billion ($1.72 billion) and a mine could produce 44,000 tonnes of copper as well as 206,100 ounces of gold a year.”

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Indian silver saw a 2.6 percent drop on Thursday, October 31, making it the biggest mover of the day. After a 1.0 percent increase, Japanese silver finished the day. US silver prices inched up 1.0 percent. The price of Chinese silver declined 0.3 percent.

Indian gold bullion prices saw a 1.2 percent decline. Chinese gold bullion closed 0.9 percent lower. The price of US gold bullion fell 0.1 percent. After a couple of days of improving prices, the price of Japanese gold bullion held steady.

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The price of US platinum bar increased 0.7 percent. Chinese platinum bar ended the day, after the 0.3 percent drop yesterday. After a 0.2 percent increase, Japanese platinum bar finished the day.

Following a two-day drop, the price of Japanese palladium bar increased by 1.1 percent. US palladium bar gained 0.1 percent to finish. The price of Chinese palladium bar held steady.