NICOSIA, Cyprus, May 24, 2011 /CNW Telbec/ - EMED Mining Public Limited
("EMED Mining" or "the Company") (AIM: EMED) (TSX: EMD), the AIM-quoted
and TSX-listed mining exploration and development company, announces
that it has received formal approval from the Department of Culture and
Heritage of the Junta de Andalucía ("Andalucían Government") for its
plans to restart the Rio Tinto Copper Mine ("the Project").
This is the first formal approval to be received from the Andalucían
Government, following its March 2011 announcement which stated that it
would endeavour to facilitate the mine restart. It is also notable that
both major political parties have this month affirmed their support for
the project in respective policy statements.
Harry Anagnostaras Adams, Managing Director of EMED Mining, said:
"We are pleased with the approval received from the Department of
Culture and Heritage and in particular appreciate the stated commitment
of the Andalucían Government to facilitate the re-start of production.
Full and constructive consultation is taking place among the
regulators, local municipalities, unions and the Company. We are all
working together to expedite the start-up."
In particular, the Company is now working with the Department of
Environment (recently restructured to include the Water Authority) and
the Department of Industry in order to expedite the necessary remaining
approvals to restart the mine - approvals of the Company's
Administrative Standing and of the Project as a whole.
At the mine, EMED Mining has started engineering work for tender
documentation in respect of plant repair and improvement programs so
that site works can begin by the end of 2011. This would enable
production to start as early as possible in 2012, subject to the timing
of the permit approvals amongst other things.
The Andalucían Government has publicly stated that it wants to
facilitate the mine start-up (see EMED Mining announcement dated 15
March 2011). This was supported on 14 and 15 May 2011 by the two
principal political parties in their respective policy statements.
In April 2011 the Government departments set out conditions and requests
required for permitting (see EMED Mining announcement dated 19 April
2011) in respect of which the Company is preparing supporting
documentation for its responses. One key condition was to minimise
pollution in the Odiel River Basin and it is notable that in this
regard the regulatory authorities are now engaging with the various
stakeholders (all relevant mining and other companies, municipalities,
academic institutions and the landholders) to ensure they all work
together over the long term to improve the conditions of the Odiel
River. Regulatory policies in this respect are being formulated for
application to all stakeholders.
For the information of shareholders, the results of elections held in
Spain on 22 May 2011 will affect the composition of some of the local
municipal councils directly involved with the Company's activities but
those elections did not include elections for the Government of
Andalucia, which will be held in May 2012.
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About EMED Mining Public Limited
EMED Mining is at the forefront of the revival of responsible mining in
Europe with several projects at different stages of development across
EMED Mining is focused on two key projects:
Copper in Spain: The Company's 100%-owned flagship project is the historic Rio Tinto
Copper Mine (also known as Proyecto de Rio Tinto) near Seville, Spain.
EMED Mining is currently permitting the restart of operations with
copper production planned to restart during 2012.
Gold in Slovakia: EMED Mining discovered the Biely Vrch porphyry gold deposit in Central
Slovakia and is currently advancing the planning and permitting
necessary for development.
For further information on EMED Mining and technical details on the
Company's projects, please refer to www.emed-mining.com.
SOURCE EMED MINING PUBLIC LIMITED
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