Monday, 3 June 2013

EMED Mining shares lifted after court ruling

Shares in EMED Mining (LON:EMED, TSE:EMD) advanced on Monday after a ruling by the Spanish Supreme Court showed the firm's approach for permitting at Rio Tinto is correct.
Harry Anagnostaras-Adams , chief executive and managing director of the mining firm, which is developing the project in Andalucia, said: "This case between a third party and the Junta de Andalucia was not a concern to EMED Mining but it is nevertheless pleasing that the outcome reaffirms our analysis of the issues that were being considered and also the approach we adopted upon acquiring in 2008 outright ownership and control of the Rio Tinto Copper project."
The court ruled that administrative standing is indeed a pre-requisite for triggering the project.
Shares in London were lifted 1.92% to 6.625p.

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