Canadian miner Taseko Mines has reached an agreement with the Tŝilhqot’in Nation and the province of British Columbia to resolve a decades-long dispute over the New Prosperity copper/gold project, ending years of legal conflict and advancing reconciliation efforts in the province.

New Prosperity, one of Canada’s largest undeveloped copper/gold deposits with a measured and indicated resource of 5.3-billion pounds of copper and 13.3-million ounces of gold, is located in the Teẑtan Biny (Fish Lake) area – territory of the Tŝilhqot’in Nation.

The dispute centred on the potential destruction of culturally and environmentally significant areas, especially Fish Lake, and the lack of free, prior, and informed consent from the Tŝilhqot’in Nation. The New Prosperity project had been twice rejected by the federal government, in 2010 and 2014.

The agreement confirms that no mineral exploration or development can proceed at New Prosperity without the free, prior and informed consent of the Tŝilhqot’in Nation.

Taseko will retain a 77.5% interest in the project, with 22.5% being placed in a trust for the future benefit of the Tŝilhqot’in Nation. That interest will transfer to the Nation should it choose to support a future development proposal.

Taseko will receive a C$75-million payment from the British Columbia government upon closing. However, the company has committed not to be the proponent or operator of any future development at New Prosperity.

“This agreement resolves a damaging and value-destructive dispute, and acknowledges Taseko’s commercial interests in the New Prosperity property and the cultural significance of the area to the Tŝilhqot’in Nation,” said Taseko president and CEO Stuart McDonald.

“Taseko will retain a majority interest (77.5%) in the mineral tenures, while any future development at New Prosperity will benefit the Tŝilhqot'in people, and will only occur with their free, prior and informed consent.”

British Columbia Minister of Mining and Critical Minerals Jagrup Brar said the resolution had been a priority and that the deal demonstrated the province’s commitment to reconciliation and economic collaboration.

“I want to recognise all parties to this agreement for their willingness to collaborate to find common ground, build mutual respect, and create a foundation for shared prosperity,” he said.

The province and the Tŝilhqot’in Nation will now work together on a land-use planning process for the New Prosperity area and the wider region, with British Columbia providing funding for this and a new Cultural Revitalisation Fund.

“This agreement protects our rights of consent in the Teẑtan area. That’s huge,” said Nits’ilʔin Roger William of Xeni Gwet’in. “Now we are turning the page. Tŝilhqot’in consent is protected: there is no longer the threat of exploration or mining without our consent.”

Fellow Tŝilhqot’in leader Nits’ilʔin Lennon Solomon of Yuneŝit’in hailed the deal as a “historic moment” for both the Nation and reconciliation in Canada. “It shows what is possible when we come together in the right spirit to resolve even the deepest conflict,” he said.

The agreement is subject to customary conditions and is expected to close in June 2025.