TRADING SYMBOL:TSX: R
TORONTO, Dec. 8, 2014 /CNW/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") announces that the South Carolina Board of Health and Environmental Control has declined to consider the Sierra Club's request for a Final Review Conference on the Department's decision to issue a Mine Operating permit for the Company's 100%-owned Haile Gold Mine project ("Haile"). The Department's decision to issue the permit has now become the Final Agency Decision.
Diane Garrett, President and CEO commented: "The Department of Health and Environmental Control stood by its thorough science-based review and the results of a lengthy, public process that culminated in the Mine Operating permit, including the reclamation plan and financial assurance package. We are pleased with the decision and continue to believe all questions and concerns raised over the past four years have been fully addressed, including the reclamation plan and associated financial assurance."
The Sierra Club filed its Request for Board Review on November 19, 2014 stating it had concerns over the amount of reclamation bonding required by South Carolina Department of Health and Environmental Control ("SCDHEC"). Reclamation bonding is based on scientific and technical data and pricing to assure that there are funds available to the State to take over reclamation in the event the permittee does not complete its reclamation obligations. The permit's financial assurance package of US$60 million exceeds Company estimations for the reclamation plan. Subsequent procedural steps are as follows:
- Within 30 days following receipt of the SCDHEC Final Agency Decision, an appeal can be filed with the South Carolina Mining Council.
- The Mining Council is required to set a hearing within 20 to 40 days of the appeal and shall give a written decision within 30 days of a hearing.
- Within 30 days of the Mining Council written decision, an appeal can be filed with the Administrative Law Court.
The Company has and will continue to be available to all stakeholders seeking information regarding the Haile project.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company focused on production primarily in the US. The Company has completed a positive Feasibility Study and has received all major permits for its flagship project, the Haile Gold Mine in South Carolina.
SOURCE: ROMARCO MINERALS INC.
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Romarco Minerals Inc.
Dan Symons, Vice President, Investor Relations