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Wednesday, 17 April 2013
EMED Mining at ‘very delicate and exciting stage’
EMED Mining's (LON:EMED, TSE:EMD) managing director Harry Anagnostaras-Adams in Wednesday’s quarterly report highlighted the progress that is being made towards the restart of the Rio Tinto copper mine in the Andalucia region of Spain.
"We are poised at a very delicate and exciting stage, working very closely with the authorities in Andalucía and making every effort to expedite the triggering of the project, to start works in the second half of 2013 and ramp-up base production by the end of 2015,” Adams said.
"As announced earlier this week, the company is now one step closer to restarting operations and is fully focused on ensuring that all permitting is in place as soon as possible.
“Confirmation from the Andalucian Department of Industry that we have satisfied the legal, technical and economic criteria for Administrative Standing of the company's mineral rights is another step in the right direction as is the formal confirmation of the remaining steps.
"Preparations of the project and its financing are progressed in parallel with permitting."
EMED is targeting a copper production rate of 37,000 tonnes in concentrate per year by the end of 2015 based on first production in 2014 and starting construction later this year.
Earlier this week, EMED announced that its economic, technical and legal capacities have been approved by the regional government, and that it had been formally advised by the Andalucian Department of Industry that the critical Administrative Standing status will also be granted upon independent approval of its tailings dam and the final environmental sign-off.
And subsequently, in a separate announcement, it revealed that it is set to start feasibility work for a possible project to recover gold and silver from tailings material at the Rio Tinto mine in Andalucia region of Spain.
This comes after the regional authorities concluded a public comment period relating to the recognition of Class B resources, or potentially recoverable resources held within waste material.