The end of 2024 marked the 20th anniversary of Gibraltar Mines operation under Taseko Mines ownership, roughly 214 kilometres south of Prince George.
Vice President, Corporate Affairs, Sean Magee said people in Williams Lake and the region understand the economic importance of Gibraltar but he’s not sure the politicians in Victoria and Ottawa always do.
Magee said that’s why Taseko conducted an economic impact study looking back at both the economic contributions the mine has made in the region, provincially, and nationally over the last 20 years while also looking ahead to the next 20 of mine operations.
He noted in the past two decades the mine is responsible for more than $16 billion of economic activity.
“More than ten billion of that actually accrued in the Cariboo, so a really significant economic driver both for the province but totally for the region. The vast majority of that economic activity is occurring right there in the Cariboo and that’s also true when you look at the employment income as well as the taxes paid. A tremendous amount of the value that is driven by Gibraltar remains right there at home.”
Gibraltar Mine employs approximately 700 workers and supports a total of 2,860 full time jobs including indirect and induced employment.
Since 2005 Taseko said economic activity from Gibraltar has generated cumulative employment income of more than $4 billion.
When Gibraltar was restarted in 2004, Magee said he believed the mine had about 12 years of mineral reserves and was producing 60 million pounds of copper.
“Today we have 20 years of mineable reserves in front of us. We’re only halfway done the work that was done to produce copper at Gibraltar and there’s every potential there will be additional discoveries and additional mine years in the future. Overall we’re projecting from 2004 to 2044 just about $42 billion in economic activity, $22 billion in GDP, $10 billion in employment income, and $5 billion in taxes will be generated at Gibraltar.”
Looking towards the future Magee noted that Taseko has another project they are working on.
“The Yellowhead Copper project which is very similar to Gibraltar, it’s located in the North Thompson region. We’re just at the outset of entering the environmental assessment process. If it is successfully permitted in the years ahead it actually has the potential to double our economic footprint in BC. We are very proud to be BC Company and a Cariboo Company and to create these very significant benefits right here at home,” Magee said.
– Files from Pat Matthews, My Cariboo Now staff
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