Monday, 15 April 2013

EMED Mining makes more permit progress at Rio Tinto

EMED Mining’s (LON:EMED, TSE:EMD) economic, technical and legal capacities have been approved by the regional government, one of the last steps in the permitting process for its Rio Tinto mine in Spain.
EMED has also 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.
Harry Anagnostaras-Adams, EMED’s managing director and chief executive, said he was very pleased with the confirmations, adding the company is on track to start construction work on the copper project in the third quarter of this year and begin production a year later.
“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.
"Approval of Administrative Standing and the Environmental Plans are prerequisites for commencement of site works and also for finalising the Final Restoration Plan and Mining Permit which are prerequisites for commencement of production in 2014.
"Preparations of the project and its financing are progressing 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.

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