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EMED will start construction of a copper mine Rio Tinto this year

24 March 2013
EMED will start construction of a copper mine Rio Tinto this year

«EMED» reports: construction of the «Rio Tinto Copper

Project» (South-West Spain), the company will begin already this year, and the first copper

the project will be received in the second half of 2014. At the moment

negotiations on obtaining permission documentation for construction

object plant, and in this matter — according to management of the Corporation —

no problem. «Last week our Board of Directors held a series of meetings

with representatives of the government of Andalusia for issues copper project „Rio

Tinto“. The negotiations were successful, and we see no obstacles that could

to prevent us to start construction work on the facility for the second half of this

years» — told reporters the managing Director of «EMED Mining Public Ltd» — Harry

Anagnostaras Adams.

«EMED» — European company operating in the sector

mining industry since 2005. The company specializiruetsya geological

the exploration of potential sites for mineral extraction, as well as engaged in extraction of

and processing ore containing copper and gold.

The Rio Tinto copper mine, which received its

the name of the river, near river beds where the field («rio

tinto» from Spanish is literally translated as «red river»). The property is situated

near Seville — the capital of the Autonomous community of Andalusia. In 2001, due to

low profitability of production, the mine was closed. However, a record rise of stock

copper prices in late 2010 — early 2011 years (when the price of the red metal

for the first time has overcome a mark in 10 thousand USD) has pushed the owners of «EMED

Mining Public Ltd», invested in asset $ 250 million, to the decision to resume production

resources on the project. At that time, the permission from the regulatory authorities was not received,

the resuscitation of the production at the facility has been postponed «until better times». Today,

according to management, «EMED», the issue of the permit is almost closed,

mines with potential capacity of 37 thousand tons of copper a year, will resume deliveries

precious resource on the market in the near future.

22 March 2013
25 March 2013