Inmet Mining Corporation

Inmet Mining Corporation

April 30, 2008 10:35 ET

Spanish Water Authority Expresses Concerns Regarding Las Cruces Dewatering and Reinjection System

TORONTO, ONTARIO--(Marketwire - April 30, 2008) - Inmet Mining Corporation (TSX:IMN) announced today that Cobre Las Cruces, S.A. has been notified by the Spanish Water Authority, Confederacion Hidrografica del Guadalquivir (CHG), of its concerns regarding the operation of the dewatering and reinjection system (DRS) at the Las Cruces project. The DRS is a system of wells around and within the Las Cruces open pit that removes water from the surrounding aquifer and re-injects it into adjacent wells in order to prevent water from flowing into the pit, thereby protecting the regional aquifer.

The concerns raised by CHG relate to the specific conditions of the authorization for the construction and operation of the DRS system that was issued in 2003. CHG has indicated that any non-compliance with the 2003 authorization may result in the temporary suspension of the authorization for the DRS system.

Las Cruces has responded in detail to the concerns raised by CHG and is of the view that the DRS is functioning as designed and contemplated in the authorization. Las Cruces will make every effort to fully cooperate with CHG to resolve its concerns.

If the DRS authorization is suspended, the timing of the direct ore shipping could be impacted as mining activities could not be carried out. Any such suspension would not however impact the completion schedule for the plant as construction would continue.

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 forward-looking statements.

About Inmet - 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 two development properties, Las Cruces and Cerattepe, and one pre-development property, Petaquilla.

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Contact Information

  • Inmet Mining Corporation
    Jochen Tilk
    President and Chief Operating Officer
    (416) 860-3972