SOURCE: EMED Mining Public Limited

January 23, 2015 06:41 ET

EMED Mining Public Limited: Final Permitting Obtained

NICOSIA, CYPRUS--(Marketwired - Jan 23, 2015) - EMED Mining Public Limited (TSX: EMD) (AIM: EMED)


EMED Mining Public Limited
("EMED" or the "Company")

Final Permitting Obtained

EMED Mining is pleased to announce that its wholly owned operating subsidiary EMED Tartessus ("EMEDT"), the holding company for the Rio Tinto Copper Project ("Proyecto Rio Tinto"), has received during a meeting with regional authorities at the Rio Tinto Mine the formal communication from the Mining authorities of the Government of Andalucía ("Junta de Andalucía") that the Resolution containing the granting of the Mining Permit for the Project has been signed. This global Mining Permit includes the approval of the Restoration Plan.

The granting of the Mining Permit and approval of the Restoration Plan are the last significant regulatory approvals required to be obtained by EMEDT before normal mining and processing operations can commence at Proyecto Rio Tinto during the third quarter of 2015.

During the first and second quarters of 2015 the Company will continue with construction and repair activities that have been ongoing at the Project since last summer. There are over 200 full-time employees together with numerous contractors working on site focussing mainly on plant and infrastructure refurbishment. The Company is targeting commissioning to commence during the third quarter of 2015.

In addition, selected mining and drilling contractors are working to optimise the production plan for the first five years of mining and preparing to start first mining activities during the second quarter of 2015.

Mining Permit and Restoration Plan Approval

The granting of the mining permit includes, as required by law, the approval of the Restoration Plan submitted by the Company. One of the conditions established by the Mining Permit is the placement by the Company to the Junta de Andalucía, within a stipulated period, of a Restoration Bond of EUR13.1 million. The Company is working with financial institutions to finalise arrangements for the bond.

To view the full announcement, please click on the following link.

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