EMED Mining Progress at Rio Tinto Mine

AIM: EMED

NICOSIA, Cyprus, Dec. 15 /CNW/ - EMED Mining Public Limited ("EMED Mining" or the "Company") is pleased to announce that it has received the required fourth signature to the statement of non-opposition (to the administrative approval of the mineral rights acquired by EMED Mining subsidiary EMED Tartessus) from members of the Liquidation Commission ("the Commission") of previous owner of the mineral rights, Minas de Rio Tinto. The Company understands that the letter of non-opposition was signed by the President of the Commission, after he had consulted the Social Platform for the Cuenca Minera (representatives of local government, unions, employer groups and the creditors represented by the Commission). The letter of non-opposition was requested by the Junta de Andalucia ("Junta") as a prerequisite to it considering the grant of administrative approval to the Company, an approval required to be obtained by the Company in order to re-start the Rio Tinto Copper Mine. The executed letter of non-opposition has been formally submitted to the Junta for its review.

Subject to confirmation by the Junta, the Company believes that the Junta will now begin a formal review process to determine whether the Company should receive the administrative approval that it is seeking, such approval to be granted upon the Company satisfying the Junta that it possesses the legal, technical and economic capacity to operate the Rio Tinto Project.

Enquiries

EMED Mining Harry Anagnostaras-Adams +357 9945 7843
RFC Corporate Finance Stuart Laing +61 8 9480 2500
Bishopsgate Communications Michael Kinirons +44 207 562 3350
Proconsul Capital Andreas Curkovic +1 416 577 9927

Notes to Editors: About EMED Mining Public Limited
EMED Mining was admitted to trading on the AIM market of the London Stock Exchange in May 2005. The Company is committed to responsible development of metal production in Europe, with a focus on copper, gold and critical raw materials.

The Group's region of interest is the tectonic belts spanning across Europe and over to the Middle East. The strategy is to evaluate exploration and development opportunities in several jurisdictions throughout this quality mineral belt and to promote sustainable development practices through the implementation of European Union and other international standards. The Company strictly implements its Environmental & Community Policies.

EMED Mining is focused on two key projects in Spain and Slovakia with excellent potential to add significant value:

Copper in Spain: The copper-mining district of Spain is probably among the best known in the world for its metal endowment. The Company's first priority is to commence production of its wholly-owned Rio Tinto Mine which is the largest metal deposit in Spain and contains a fully installed and maintained operational complex - an open pit mine, copper-concentrator and waste disposal facilities.

Gold in Slovakia: The Company has made a significant gold discovery at Biely Vrch and is advancing planning and permitting for its potential development. A revised Scoping Study prepared by AMC Consultants (UK) Ltd has confirmed the attractive economics of developing a mine at Biely Vrch - based on gold prices of >US$1,000/ounce (currently >US$1,300/ounce). A matter of equal importance to the assessment of the technical merits of our projects in Slovakia is the degree of social licence gained. EMED Mining personnel have built-up outstanding relationships with the Slovak government, local communities, business chambers, scientific societies and other stakeholders that are based on integrity, transparency and progress. These stakeholders have been very supportive of the responsible development of metal production operations in Slovakia.

EMED Mining has the following other notable earlier-stage activities:

  • Exploration licences in the copper-mining districts of Cyprus;
  • An option over a tungsten deposit in Portugal; and
  • A 20% shareholding in KEFI Minerals Plc which operates exploration joint ventures in Turkey and Saudi Arabia.

Forward Looking Information

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to the acceptance of the letter of non-opposition by the Junta, the grant of administrative approval to operate the Rio Tinto Project, the future financial or operating performance of the Company, its subsidiaries, future growth, results of operations, performance, business prospects and opportunities. Often, but not always, forwardlooking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations (including negative variations) of such words and phrases, or by the use of words or phrases that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forwardlooking statements contained in this press release including, without limitation those described in the final prospectus dated December 13, 2010 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in such forward-looking statements, there may be other factors that may cause actions, events or results to differ from those anticipated, estimated or intended. Should one or more of these risks or uncertainties materialize or should assumptions underlying such forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this press release. The forward-looking information and forward-looking statements contained herein are made as of the date of this press release and the company disclaims any obligation to update or review such information or statements, whether as a result of new information, future events or results of otherwise, except as required by law.

SOURCE EMED Mining Public Limited

For further information: For further information:

on the Company's activities, visit www.emed-mining.com or www.emed.tv

Organization Profile

EMED Mining Public Limited

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890