SOURCE: EMED Mining Public Limited

October 06, 2011 05:17 ET

EMED Mining Public Limited: Quarterly Operational Update

NICOSIA, CYPRUS--(Marketwire - Oct 6, 2011) -


6 Oct 2011

EMED Mining Public Limited (AIM: EMED, TSX: EMD) ("EMED Mining" or "the
Company"), the Europe-based minerals development and exploration
company, announces today the following operational update for the
three-month period ended 30 September 2011. The full Quarterly Report,
including consolidated Financial Statements and the Management
Discussion and Analysis, will be issued on or before 14 November 2011.

Key Points

Harry Anagnostaras Adams, Managing Director of EMED Mining, commented:
"In Spain, as part of the standard local permitting process, we
submitted to the authorities on 01 September the additional
documentation which addressed regulatory requests and conditions
relating to the Rio Tinto Mine. Informal exchanges are on-going, to
address matters requiring clarification and minimise delays.
"We continue to strive for the achievement of critical permitting
stages in 2011, formal access to all required project lands in mid-2012
and for commissioning to start in late 2012, at which stage the Rio
Tinto Mine will create over 1200 new direct employment opportunities
and more indirect jobs."As regards the project economics and financing, it is
notable that the
recent pull-back of US$ copper prices has been cushioned in Euro terms
by concurrent exchange rate movements. And project financing term
sheets are being refined so that mandates can be awarded in Q4-2011.
"Our plans for operating the Rio Tinto Mine continued to be refined
during the quarter in response to the feedback from the Junta de
Andalucia. Improvements now also include the environmental
rehabilitation of areas left contaminated by previous operators since
1982 and enhanced water treatment in line with new river management
policies. Being a bigger project covering an enlarged land footprint,
the enhanced project not only provides for a better environmental
outcome but now also provides room for extension of the project life by
facilitating conversion of resources to reserves in the Cerro Colorado
open pit as well as the anticipated development of underground deposits
on the property. These aspects will be outlined in the current quarter.

Click on, or paste the following link into your web browser, to view
the associated PDF document. 

EMED Mining is listed on AIM (Code: EMED) and the TSX (Code: EMD)


Investors/Media:    Harry Anagnostaras-Adams +357 9945 7843

In North America :  Andreas Curkovic +1 416-577-9927

General: Cyprus office: +357 2244 2705, Email: 

                    This information is provided by RNS
          The company news service from the London Stock Exchange


Contact Information