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Friday, 21 June 2013
EMED Mining adds new exploration land near Rio Tinto
EMED Mining (LON:EMED, TSE:EMD) is expanding on its foothold in the Iberian pyrite belt with the addition of new exploration prospects in Spain.
The Aguilas Two licence, comprising the Valle Redondo and El Villar areas, is just eight kilometres away from EMED’s wholly owned Rio Tinto mine, which is considered the ‘crown jewel’ of the belt.
The emphasis remains on re-starting Rio Tinto and EMED says the initial work will fit within already planned exploration spending.
Managing director Harry Anagnostaras-Adams said: "We believe that the Iberian Pyrite Belt will re-emerge as a globally significant metal producer and we are committed to playing our role by having re-assembled, re-engineered and planning to shortly restart the largest of its mining fields, Rio Tinto.
"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 also to explore our ancillary tenements including the Aguilas Two Exploration Licence area which we are particularly pleased to have been awarded.
“Negligible exploration has been conducted on any of these tenements for over 20 years."