The Dasiqox Tribal Park includes Fish Lake, above, as well as the site of Taseko’s proposed New Prosperity mine. Photo by Garth Lenz
What strikes harder than the opportunity cost of delaying a billion dollar project and moving forward is the cost of revitalizing a company’s public image once it is ruined.
Taseko’s proposed new prosperity mine has been in the spotlight due to its clash with Canada’s First Nation’s values. The $1.1 billion copper-gold project will not be able to move forward until social and environmental issues are settled between Taseko Mines Ltd and the First Nation.
From a historical and social stance, the natives seem to have more rights to claim their land and its nearby surroundings. Their rationale is based on culture and environmental concerns that, to say the least, sounds more favorable than big scale business projects that may hinder sustainable development.
Evidently, this issue seems to put Taseko in an unfamiliar situation. It is crucial for Taseko to delve into more research and develop communication with the First Nation (which, the letter of understanding will become beneficial) since there is much ambiguity about what a tribal park is, how it is constituted and what the governing rules of the park are.
With Taseko’s project and Tsilhqot’in’s land at stake, both groups might want to consider moving into a strategic alliance as other aboriginal and non-aboriginal companies have done. The alliance will enhance the project’s strength and the native’s opportunity of giving and receiving employment respectively.
Nevertheless, Taseko should always consider what the effects to their public image are once a decision has been made. It is easier for profit making companies to become the target of social or environmental criticism by various stakeholder groups.