VANCOUVER, March 31, 2015 /CNW/ - Taseko Mines Limited (TSX: TKO; NYSE MKT: TGB) ("Taseko" or the "Company") is pleased to announce that its Gibraltar Mine has received the 2014 John Ash Safety Award presented by the Ministry of Energy and Mines. This prestigious award goes to the mining operation in British Columbia with the lowest injury-frequency rate that has worked at least one million hours during the year. Gibraltar worked over 1.7 million hours during 2014 with zero lost time accidents.
Russell Hallbauer, President & CEO of Taseko Mines Limited, stated, "Operating with employee health and safety and the environment held paramount is the foundation of a world class operation. We do not take safety for granted and it is a concerted effort to ensure that safety is at the forefront of every employee's decision and action. Not only did Gibraltar employees have the lowest injury-frequency rate of all BC mines in 2014, but they also achieved an entire calendar year without a single lost time accident. The accident free period continues and now exceeds two million worker hours and is a real reflection of the high standards at Gibraltar. We are proud of our employees for this accomplishment and their ongoing commitment to health and safety, an important aspect of their work lives."
Mr. Hallbauer continued, "Following the Mount Polley tailings dam incident in August 2014, the integrity of all tailings storage facilities in BC and around the world were called into question. Unlike Mount Polley's earth and rock dam, the main Gibraltar dam is constructed from cycloned sand and the majority of the perimeter of the pond is original ground. Most of the recommendations made by the Mount Polley Expert Independent Geotechnical Review Panel are already in place at Gibraltar and have been for many years. The method of separating sand and water using cyclones has been the primary method for years at many BC mines, including Gibraltar, and we believe it provides the highest level of dam integrity. In August 2014, all BC mines operating tailings storage facilities were ordered to conduct a Dam Safety Inspection (DSI) by a third party qualified engineering firm. Additionally, the DSI was to be reviewed by an independent qualified third party engineering firm. The DSI which was performed at Gibraltar confirmed that Gibraltar's tailings dam was satisfactory in all areas with no safety or dam structure concerns. The third party review confirmed the DSI results with no additional recommendations."
"These are just two examples of the high standards of care that Gibraltar and Taseko provides for its employees' health and safety and also for the environment that we share with our neighbours," concluded Mr. Hallbauer.
The Mine Safety Awards were established in 1961 by the British Columbia Minister of Mines and Petroleum Resources to recognize the safety record of mines in the province. Each year, these awards honour mining operations for their safety accomplishments. The Mine Safety Awards consist of three competitions and seven different awards.
Russell Hallbauer
President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This document contains "forward-looking statements" that were based on Taseko's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should" and similar expressions.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:
- uncertainties and costs related to the Company's exploration and development activities, such as those associated with continuity of mineralization or determining whether mineral resources or reserves exist on a property;
- uncertainties related to the accuracy of our estimates of mineral reserves, mineral resources, production rates and timing of production, future production and future cash and total costs of production and milling;
- uncertainties related to feasibility studies that provide estimates of expected or anticipated costs, expenditures and economic returns from a mining project;
- uncertainties related to the ability to obtain necessary licenses permits for development projects and project delays due to third party opposition;
- uncertainties related to unexpected judicial or regulatory proceedings;
- changes in, and the effects of, the laws, regulations and government policies affecting our exploration and development activities and mining operations, particularly laws, regulations and policies;
- changes in general economic conditions, the financial markets and in the demand and market price for copper, gold and other minerals and commodities, such as diesel fuel, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, and the continued availability of capital and financing;
- the effects of forward selling instruments to protect against fluctuations in copper prices and exchange rate movements and the risks of counterparty defaults, and mark to market risk;
- the risk of inadequate insurance or inability to obtain insurance to cover mining risks;
- the risk of loss of key employees; the risk of changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates;
- environmental issues and liabilities associated with mining including processing and stock piling ore; and
- labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate mines, or environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in our mines.
For further information on Taseko, investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com.