Atalaya Mining Regulatory News (ATYM)

1 Jul 2009 09:30



AIM: EMED 1 July 2009

RIO TINTO MINE - COPPER PROJECT UPDATE

Continued Progress Towards Production Restart 

EMED Mining Public Limited (the "Company"), the AIM quoted mining exploration and development company, is pleased to update shareholders regarding developments at its Rio Tinto Mine. Continued progress of the permitting process relating to the start-up of production has led the Company to implement a number of steps as follows:

Having submitted the principal project applications and consulted Spanish experts on the various remaining aspects, the Company will shortly submit the other principal documentation for permitting - the environmental assessment and improvement plans;

Having established excellent relations with local government and regulatory authorities, the Company has appointed additional expert Spanish advisers for corporate social responsibility policy and monitoring going forward;

Having recently acquired 100% ownership, the senior executives of the Group have been appointed to the Boards of the now wholly-owned Spanish subsidiaries EMED Spain and EMED Tartessus;

Having installed our own site leadership team, the Company continually refines detailed planning for operational start-up including improvements to infrastructure, operating practices and the condition of the site.

Group Managing Director and Chairman of  the subsidiaries, Harry Anagnostaras-Adams said -

"The permit application process is progressing well and now the Company turns to environmental aspects. We are pleased that studies show that the condition of the Rio Tinto Mine site will be improved significantly by implementing our polices and plans. 

"Once the permitting process is formally completed, we will establish the production management teams and workforce recruitment procedures and seek shareholder and financier approvals."

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