LONDON (Alliance News) - EMED Mining PLC Thursday said the process of its re-start plan for the Rio Tinto Copper project is still on track, contrary to recent press speculation of a delay.
The Europe-based minerals development and exploration company responded to a local Andalusian publication which said on Wednesday that there has been a three month delay in the licencing process.
The company said that the company and the government of Andalusia continue to work co-operatively on the licencing process for the re-start of the Rio-Tinto Copper project.
EMED announced in January that it had received a positive environmental 'compatibility report' for the site from the Andalusian government and was moving forward with its development plans.
The open-pit mine, formerly owned by Rio Tinto, has ore reserves totalling 606,000 tonnes of contained copper and a large processing facility that has been on care and maintenance since 2001.
Rio Tinto no longer has an interest in the mine.
EMED mining shares were down 1.5% to 8.50 pence Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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