TORONTO, July 10 /CNW/ - Inmet Mining Corporation (IMN-TSX) announced
today that an unexpected ground movement has occurred at the newly constructed
storage facility for the dried residues from the process plant at the Las
Cruces project in Spain. The facility is not yet commissioned and no residue
is stored in the facility at present. There were no injuries associated with
and no environmental impact resulting from the event.
Management at Las Cruces has mobilized the project's external
geotechnical and other senior experts to commence an investigation of the
cause of the event. In addition, officials of the Andalucian mining authority
have been notified of the event.
The extent of any delay in the project schedule that may result from the
event cannot be conclusively determined until the investigation is fully
completed and the cause of the event is identified. We expect the
investigation may take several weeks or more to complete.
Forward looking information
Securities regulators encourage companies to disclose forward-looking
information to help investors understand a company's future prospects. This
press release contains forward-looking information. These are
"forward-looking" because we have used what we know and expect today to make a
statement about the future. Forward-looking statements usually include words
such as may, expect, anticipate, and believe or other similar words. Capital
and operating cost estimates are forward-looking statements, and are based on
assumptions that we believe to be reasonable. However, actual events and
results could be substantially different because of the risks and
uncertainties associated with our respective business or events that happen
after the date of this press release. You should not place undue reliance on
Inmet is a Canadian-based global mining company that produces copper,
zinc and gold. We have interests in four mining operations in locations around
the world: Cayeli, Pyhasalmi, Troilus and Ok Tedi. We also have interests in
three development properties, Las Cruces, Cerattepe and Petaquilla.
This press release is also available at www.inmetmining.com.
For further information:
For further information: Richard Ross, Chairman and Chief Executive
Officer, (416) 860-3974; or Jochen Tilk, President and Chief Operating
Officer, (416) 860-3972