Fish Lake, in B.C.'s southern Interior, is part of a watershed system at the centre of a proposed Taseko Mines project. (Council of Canadians)

B.C.-based Taseko Mines will submit a new proposal for the Prosperity gold and copper mine southwest of Williams Lake once it has studied the reasons its original plan was rejected, the company says..

CEO Russell Hallbauer agrees the project should meet tough environmental standards and says the company will work to address green issues.

Prosperity Mine was touted as an $800-million project that would create 700 jobs in the Williams Lake region, which has been hit hard by the pine beetle epidemic and the economic downturn in the forest industry.

The province approved the proposed mine in January, despite negative consequences for fish and fish habitat, saying the effects were justified in the circumstances.

But environmentalists and a local native band had strong objections to the mine project, with some members of the Tsilhqot'in Nation saying they would protect the land with firearms if necessary.

After a lengthy review, federal Environment Minister Jim Prentice rejected the proposal last week, citing the environmental impact it would have on Fish Lake and dozens of connecting streams.

With files from The Canadian Press