LONDON (Alliance News) - EMED Mining Public Ltd Friday said that the Minister of Environment and Spatial Planning had announced the signing of the Unified Environmental Authorisation in relation to the Rio Tinto Mine in Spain.
However, it said it is awaiting the formal receipt of the AAU, and will make a further announcement when it has received it.
The Rio Tinto Copper project, formerly owned by Rio Tinto PLC, is a key focus for the company. At its full-year results Thursday the company said that its near-term priority was to start product on the project. It has ore reserves totalling 606,000 tonnes of contained copper and a large processing facility that has been on care and maintenance since 2001.
Shares in EMED were trading up 14% at 10.82 pence Friday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @hanassallnews
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