VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 25, 2013) - Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE:KCC) is pleased to announce that it has become a member of the Mongolian National Mining Association ("MNMA").
MNMA, with support from the Business Council of Mongolia ("BCM"), is leading the mining industry's consultation with the Office of the President in regards to the proposed draft Minerals Law, amongst other matters. Kincora has provided a detailed response to the MNMA and the BCM to assist the Industry, provide constructive feedback and consultation with the President's Office Working Group responsible for the draft Law. Kincora is an active member of the BCM.
Commenting on today's announcement, John Rickus, President and CEO of Kincora, said:
"Kincora is seeking to be proactively involved in the proposed consultation process with the Office of the President in regards to the proposed draft Minerals Law and to assist in our goal of being a responsible exploration company and contributor to Mongolia's mining industry. We are encouraged by the opportunity to be involved in this process, are fully supportive of the Industry being actively and directly engaged in the consultation process, and support MNMA's leadership of the Industry's efforts in this regard."
Executive Director of the MNMA Algaa Namgar has commented:
"It is my pleasure to welcome Kincora to the Mongolian National Mining Association. Our members include both national and foreign exploration and mining companies and our membership base is steadily increasing. I believe that MNMA and its members have valuable roles, positions and contributions to the development of the mineral sector, which is a leading sector of the Mongolian economy. The MNMA will continue to work actively to promote responsible mining and protect the interests of all our members."
About the Mongolian National Mining Association
Mongolian National Mining Association is a nonprofit and non-governmental organization, comprises of all individuals, business entities and organizations, on voluntary basis, that engage in production, scientific research, mapping and projection, services, and training in the mining sector, certifies them as its members, and provides its services for benefit of its members, and runs its activities independently from the state and on the basis of self-governing principle.
Its vision is to make responsible mining as fundamental principal of mineral resource activities and operate as an independent institute that can contribute to the sustainable development of the sector. Core activities include: supporting and participating in responsible mining development; protecting members' legal rights and interests; reflecting members' opinions to the government policy; providing beneficial services for the members; and, providing true knowledge and information about the sector.
About Kincora Copper Limited
Kincora Copper Limited is a mining exploration and development company based in Vancouver and listed on the TSX Venture Exchange that was formed in mid-2011.
Kincora's ambition is to be the leading listed independent copper exploration and development company in the highly prospective and proven Oyu Tolgoi South Gobi porphyry copper belt in southeast Mongolia. The Company is currently exploring its wholly owned Bronze Fox, Tourmaline Hills and North Fox projects which host an extremely large and strategically located mineralised footprint covering over 40km2.
The projects are situated only 250km from the Chinese border and within 140km of two large scale greenfield copper construction projects: Oyu Tolgoi, invested capital to date approximately US$6 billion and target production of 160,000t/day; and, Tsagaan Suvarga, estimated capex US$1b and target production of 40,000t/day. Other significant mines and associated infrastructure are being developed in this immediate region.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.