LONDON (Alliance News) - EMED Mining Public Ltd Thursday said it has been awarded the final license required to begin mining activities at the Rio Tinto copper project in Spain, described as a "major milestone" for the company.
"This licence represents the final permitting component required to initiate mining activities at the Rio Tinto copper project where wet commissioning has already begun and first production is scheduled to commence in the third quarter of 2015," said the company.
The Rio Tinto copper mine is near Seville and the open-pit mine and processing facility have been on care and maintenance since mining ceased in 2000. EMED Mining was granted an option to acquire the operation in May 2007 and it was subsequently acquired in October 2008.
EMED shares were up 5.5% to 4.35 pence per share on Thursday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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