EMED.L Share News (EMED)

Europe-based minerals development and exploration company EMED Mining has reported that the Andalucian Government is progressing permits required to commence site works at the Rio Tinto Copper Project.EMED Mining said that the Department of Industry had cleared the company's economic, technical and legal capacities and formally written to advise that it intends to finalise administrative recognition of the company's mineral rights. Harry Anagnostaras-Adams, Managing Director and Chief Executive Officer of EMED Mining, commented: "Great progress has been made in gaining our final approvals to initiate production planning. We maintain targets to trigger works in the third quarter of 2013 and production in the third quarter of 2014 and we thank all stakeholders for their support in the preparations for the restart of the world class Rio Tinto Copper Project."He added: "We are very pleased that the Andalucian Department of Industry has confirmed that the company has satisfied the legal, technical and economic criteria for Administrative Standing of the company's mineral rights and formally written to advise that it can be expected to be finalised upon receipt of a satisfactory independent report in respect of tailings management plans as discussed, and upon formal approval by the Department of Environment of the Environmental Plans." EMED's share price was unchanged at 10.50p at 09:28 on Monday following an early morning high of 11.35p per share.MF