TORONTO, Nov. 7, 2014 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") is pleased to announce the South Carolina Department of Health and Environmental Control ("SCDHEC") has mailed notice that it has issued the Mine Operating Permit for the Company's 100%-owned Haile Gold Mine project ("Haile"). The Mine Operating Permit is the final major permit required for Haile.
The Mine Operating Permit is required to allow Haile to conduct mining, milling and reclamation activities at the project. Under the permit, SCDHEC requires controls for safety and environmental protection, with monitoring and reporting during operations. Before the start of mining activities the Company will provide a bond of approximately $30 million for reclaiming and restoring the land when mining ceases. The permit requires that additional security of approximately $30 million be provided over the life of the mine for a total financial security commitment of $60 million.
Diane Garrett, President and CEO commented: "The Mine Operating Permit is the final environmental permit required for the Haile project to commence mining operations, and we are extremely excited to have all necessary permits to break ground."
Unless there is a written request to the SCDHEC Board for review the proposed Mine Operating Permit becomes effective November 21, 2014.
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.
For further information:
Romarco Minerals Inc.
Dan Symons, Vice President, Investor Relations
E-mail: [email protected]