EMED Mining Public Limited - Permitting Update
15.04.2013 | Marketwired
NICOSIA, CYPRUS -- (Marketwired) -- 04/15/13 --
AIM: EMED
TSX: EMD 15 April 2013
EMED Mining Public Limited
("EMED Mining" or the "Company")
Permitting Update
for Commencement of Site Works at Rio Tinto Copper Project
EMED Mining, the Europe-based minerals development and exploration
company, is pleased to report that the Andalucian Government is
progressing the permits required to commence site works, namely the
finalisation of Administrative Standing and of the Environmental Plan.
The Andalucian Department of Industry has cleared the Company's
economic, technical and legal capacities and formally written to
formally advise that it intends to finalise Administrative Standing
(administrative recognition of the Company's Mineral Rights) upon:
1. Receipt of a preliminary report from the national civil works
technical review agency CEDEX (Centro de Estudios y
Experimentacion de Obras Publicas) supporting the proposed
conditions to be applied to tailings management, as already
factored into the Company's plans. The confirmatory
investigations were completed last quarter and the report is due
in May 2013 confirming the viability of the tailings management
plan, including:
o restricting the existing dam wall to the previously
permitted height
o future use of high density tailings to reduce water on the
tailings deposit
o proposed method of sealing the surface of the tailings
deposit at closure
o holding capacity to support production plans, and
2. Approval by the Department of Environment of the Environmental
Plan ("AAU" or Unified Environmental Authorisation). The
conditions of approval need to take into account all matters
raised during the public comment period in 2012 and any matters
raised by regulators or parties with a registered interest.
Harry Anagnostaras-Adams, Managing Director and CEO of EMED Mining,
commented:"Great progress has been made in gaining our final approvals to
initiate production planning. We maintain targets to trigger works in
Q3-13 and production in Q3-14 and we thank all stakeholders for their
support in the preparations for the restart of the world class Rio
Tinto Copper Project. It has taken a great effort to re-assemble all
the lands and infrastructure and to re-engineer the project so that it
meets all regulatory requirements."We are very pleased that the
Andalucian Department of Industry has confirmed that the Company has
satisfied the legal, technical and economic criteria for Administrative
Standing of the Company's mineral rights and formally written to
advise that it can be expected to be finalised upon receipt of a
satisfactory independent report in respect of tailings management plans
as discussed, and upon formal approval by the Department of Environment
of the Environmental Plans. "Approval of Administrative Standing and the
Environmental Plans are prerequisites for commencement of site works and
also for finalizing the Final Restoration Plan and Mining Permit which are
prerequisites for commencement of production in 2014. Production start-up
in 2014 is the first stage of targeted operations encompassing several
deposits on the Company's wholly-owned property."Preparations of the
project and its financing are progressing in parallel with permitting."
For more information please contact:
EMED Mining Harry Anagnostaras-Adams +357 9945 7843
RFC Ambrian Stuart Laing +61 8 9480 2500
Fox-Davies Capital Simon Leathers/Susan Walker +44 203 463 5022
Bishopsgate Communications Nick Rome +44 207 562 3350
Proconsul Capital Andreas Curkovic +1 416 577 9927
This information is provided by RNS
The company news service from the London Stock Exchange
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