Elemental Minerals Announces Approval of Environmental and Social Impact Assessment
PERTH, Australia, Aug. 28, 2013 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) ("Elemental" or "the Company") is pleased to announce that the Company has received approval of its Environmental and Social Impact Assessment ("ESIA") from the Republic of Congo ("RoC") Ministry of Tourism and Environment.
The approval of the ESIA comes shortly after the Company was awarded the Mining License for its Sintoukola Potash Project.
The ESIA covers an area of 3900 km2 and grants approval for all required construction and operational activities related to the Kola deposit over the life of mine, currently expected to be 23 years. These activities include ore mining, transport and processing, residue storage, brine disposal, final product loading through maritime facilities, staff accommodation and service corridors.
The ESIA is the culmination of 24 months of extensive environmental and social studies and various stakeholder engagement initiatives. The study was prepared by SRK Consulting and its local counterpart PERAM.
Commenting on the approval of the ESIA, Elemental's CEO, Iain Macpherson stated: "We are extremely excited about the approval of the ESIA for the Sintoukola Potash Project. This is the second of two key permitting stages and further demonstrates the RoC Government's commitment to the development of mining assets in the region. It also highlights the advanced nature of the engineering, environmental planning and social engagement that has gone into the development of this exciting project and further confirms the near term production potential of Sintoukola as an independent, low cost, long term significant potash producer."
Elemental recently announced the award of an extension of its exploration licence for an additional two years. This allows the Company to continue exploring the highly prospective Dougou and other targets within its 1,408 km2 holding.
About Elemental Minerals
Elemental Minerals Limited (ASX/TSX:ELM) is an advanced mineral exploration and development company that aims to grow shareholder value through its 93%-owned Sintoukola Potash Project. The Sintoukola project has the potential to be among the world's lowest-cost potash producers and its strategic location near the coast of Central Africa offers a transport cost advantage to key Brazilian and Asian fertilizer markets. For more information, visit www.elementalminerals.com
Elemental announced on 1 July 2013 that the Company and Dingyi Group Investment Limited ("Dingyi"), a company incorporated in Bermuda and listed on the Hong Kong Stock Exchange have following the successful completion of a thorough technical and financial due diligence exercise by Dingyi, executed a bid implementation agreement under which Dingyi will make an off market takeover offer for 100% of the fully paid ordinary shares of Elemental at A$0.66 per share.
Johannesburg Office: +27 11 469 9140
Kola Project Summary1
The Kola Prefeasibility Study (PFS) was completed in September 2012 and was led by SRK Consulting (US) Inc. Based on a Measured and Indicated sylvinite Resource of 573 Mt grading 20.92% K20 (33.14% KCl), a Proven and Probable Reserve of 151.7Mt grading 20.02% K20 (31.69% KCl) was declared. This Resource was based entirely on the Upper and Lower Seam.
Run of mine material will be transported over 36km via an overland conveyor to a process plant located at the coast. Final MOP product will be transshipped by a 750m jetty.
The Mineral Resources are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2004 Edition (The JORC Code), which is consistent with Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards 2005 and hence complies with NI 43-101.
This news release contains statements that are "forward-looking". Generally, the words "expect," "potential", "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements, to differ materially from those expressed or implied in any of our forward-looking statements, which are not guarantees of future performance. Statements in this news release regarding the Company's business or proposed business, which are not historical facts, are "forward looking" statements that involve risks and uncertainties, such as resource estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
1 For a full description refer to the NI 43-101 Technical Report, dated 17 September 2012 available on SEDAR, www.sedar.com
SOURCE Elemental Minerals LimitedFor further information:
Chief Executive Officer
Tel: +27 (0) 76 238 4461
Investor Relations Manager
Tel: +27 (0) 83 604 0820