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Tuesday, 16 April 2013
EMED Mining to start feasibility work on tailings recovery project
EMED Mining (LON:EMED, TSE:EMD) 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.
The process yield only one negative comment which, according to EMED, raised nothing of a material nature that had not already been taken into account in the company’s plans.
"The tailings recycling joint venture is an important project not only for its potential economic value but also because it can play an important role in the environmental management of the tailings deposit and in maximising its holding capacity,” said Harry Anagnostaras-Adams.
"Whilst our immediate focus is on the restart of the Cerro Colorado open pit, our plan is to extend project life and annual production by targeting to expand the open pit, restart the underground mines, recycle precious metal in the tailings deposit and explore our ancillary tenements."
"The various elements of our plans are now starting to fall into place in a complementary pattern after extensive consultation with the authorities."
The proposed tailings project, known as the Gossan Dam deposit, contains the waste material resulting from past operations which produced over 1.7mln tonnes of copper, 3.4mln ounces of gold and 57mln ounces of silver.
The project is being advanced via a joint venture with a local investment group known as Rumbo 5.Cero.