AIM: EMED, TSX: EMD
NICOSIA, Cyprus, Sept. 6, 2011 /CNW Telbec/ - EMED Mining Public Limited
(AIM: EMED) (TSX: EMD) ("EMED Mining" or "the Company"), the
Europe-based minerals development and exploration company, announces
that it has duly completed and submitted documents as requested by the
Junta de Andalucia (the "Government") Departments of Industry and
Environment, mainly comprising the documents required to create an
environmental restoration plan covering an enlarged land footprint.
In March 2011, the Government announced that it had satisfied itself as
to the legality of the proposed administrative transmission (the
approval of "Administrative Standing") of the Rio Tinto mineral rights
acquired in 2007 by EMED Tartessus, the Company's wholly-owned
This thereby facilitated the prompt processing of the Company's
application for Administrative Standing and the other approvals
necessary for the restart of the mine. The Department of Culture and
Heritage then issued its formal approval and the other two departments
set out their requests and conditions.
The intended next steps during Q4-11 are the conditional approval of the
enlarged restoration plan and the approval of Administrative Standing.
Harry Anagnostaras Adams, Managing Director of EMED Mining, commented:
"We continue to make notable progress on several fronts. The current
regulatory process is consistent with the Company completing the
critical permitting stages in 2011, obtaining formal access to all
project lands in mid-2012 and to start commissioning in late 2012. As
demonstrated by our prompt completion and submission of responses to
all outstanding requests and conditions, we continue to work closely
and positively with the local authorities.
Additionally, we have triggered the detailed documentation for
plant-repair contracts, most of which are intended to be let to local
suppliers. The number of people of people working at the site will now
temporarily increase by about 50 and upon formalization of all permits,
including formal occupation of the enlarged land footprint, there would
be over 1,000 people working on the site.
"We have received indicative term sheets from alternative project
financiers, including the Company's bankers and the intended product
"We continue as well to explore the larger potential at Rio Tinto. We
have identified significant expansion possibilities in the Cerro
Colorado open pit and in the adjacent San Dionisio underground mine.
These possibilities will require separate permitting in due course,
after completing the required drilling and planning which can proceed
when Administrative Standing is granted."
SOURCE EMED MINING PUBLIC LIMITED
For further information:
| || EMED Mining || || Harry Anagnostaras-Adams || || +357 9945 7843 |
| || RFC Corporate Finance || || Stuart Laing || || +61 8 9480 2500 |
| || Fox-Davies Capital || || Simon Leathers || || +44 203 463 5022 |
| || Fairfax I.S. PLC || || Ewan Leggat/Katy Birkin || || +44 207 598 5368 |
| || Bishopsgate Communications || || Nick Rome/Shabnam Bashir || || +44 207 562 3350 |
| || Proconsul Capital || || Andreas Curkovic || || +1 416 577 9927 |
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