NICOSIA, Cyprus, May 4 /CNW Telbec/ - EMED Mining Public Limited (AIM:
EMED, TSX: EMD) ("EMED Mining" or "the Company"), the Europe-based
minerals development and exploration company, announces its unaudited
results for the three months ended 31 March 2011. The full Quarterly
Report (as required by Toronto Stock Exchange reporting standards),
including consolidated Financial Statements and the Management
Discussion and Analysis relating to the Company, is available under the
Company's profile on SEDAR at www.sedar.com and on the Company's website at www.emed-mining.com.
In January 2011, one of the four principal regulatory authorities with
responsibility for the Rio Tinto Copper Mine, Andalucía's Department of
Culture and Heritage conditionally approved, from a heritage point of
view, the Company's proposed mining activities as detailed in various
submissions. This represented the first formal response to the Company's application
for Administrative Standing.
The Company announced plans for drilling at its Rio Tinto Copper Mine
upon receipt of Administrative Standing. Exploration work will be
conducted in parallel with completion of permitting and the start-up of
the mining operation. Many areas on the mine property have not been
drilled near surface or at depth. Exploration targets have been identified in and around the open cut and
underground workings with the potential to expand the current 14-year
base-case mine life and/or annual production.
In March 2011 the Junta de Andalucía ("Government") announced that
through its active enquiry and intervention it has satisfied itself as
to the legality of the transmission of the Rio Tinto mineral rights to
EMED Tartessus, the Company's wholly-owned subsidiary. This thereby facilitated the further processing of the Company's
application for Administrative Standing and approvals for the restart
of the mine.
Post period end in April 2011 the Company announced that it has now
received responses from all four governmental departments that contain
requests and preliminary conditions required for the approval of the
Company's submissions to restart the Rio Tinto Copper Mine.
The Company has started preparing responses to the requests and
conditions received and has commenced the engineering work to prepare
tender documentation for the repairs and improvements to the plant.
Harry Anagnostaras Adams, Managing Director of EMED Mining, commented:
"We are pleased to have overcome the legal legacy issues and to have
advanced the regulatory process to the technical, economic and social
requests and conditions. We continue to work closely with the
regulatory authorities to ensure that we can restart the Rio Tinto
Copper mine as soon as possible.
"The Company continues to target all approvals in 2011 and initial
production in 2012, the timing of which will depend on the final
conditions of permitting and the timing thereof."
SOURCE EMED MINING PUBLIC LIMITED
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