Nevada Copper Receives Water Pollution Control Permit
26 Agosto 2013 - 2:00PM
Marketwired
Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or "Company") is
very pleased to announce that it has now received its Water
Pollution Control Permit. This is one of the two remaining State
permits that will allow for full construction and operation of the
Stage 1 underground project.
The Company is expecting its final permit, the Air Pollution
Control Permit, within the next 20 days. Receipt of the Air
Pollution Control Permit is considered a "minor" permit and will
complete all required permitting for the Stage 1 underground
operation.
Further to the RK Mine Finance ("Red Kite") loan facility and
concentrate off-take agreement for US$200 million (see March 28,
2013 News Release) a payment of US$15 million will be received upon
receipt of all permits. The Air Pollution Control Permit is
currently the only permit that remains outstanding.
Water Pollution Control Permit
Further to our press release dated July 16, 2013 the Nevada
Department of Environmental Protection ("NDEP") issued the Water
Pollution Control Permit on August 23, 2013.
On July 10, 2013, NDEP issued the 30-day Public Notice to issue
the modified WPCP. This 30-day public review was completed on
August 9, 2013. During the 30 days comment period, no comments were
received. Our Reclamation Permit was also previously issued with no
public comments.
The current Water Pollution Control permit is a modification of
a previous water pollution control permit that Nevada Copper
received in 2008. This permit was obtained in order to sink a 2,140
foot, 24-foot diameter production-sized shaft. A production-sized
hoist and head-frame have been constructed and shaft sinking is
currently in progress, with a target for completion by Q2-2014.
Giulio Bonifacio, President and CEO, stated: "We continue to
execute and achieve all our defined project and financing
milestones for purposes of achieving commercial production in 2015.
All permits for our Stage 1 underground operation have now been
received with only the Air Quality Permit remaining which we expect
within the next 20 days. With our recently completed Red Kite
financing totaling US$200 million and current treasury, we expect
to fund a significant portion of the remaining project capital by
way of an equipment lease and precious metal stream. We are fast
approaching our most significant corporate and project milestone -
a fully permitted and funded project with minimum dilution to our
shareholders."
Air Pollution Control Permit ("APCP")
Nevada Copper expects to receive its Class II Air Pollution
Control Permit, a "minor" air permit, within the next 20 days.
The NDEP, Bureau of Air Quality deemed the APCP application
administratively complete on June 26, 2013 and entered a 60-day
technical review. NDEP has completed their technical review of the
emissions inventory and dispersion model and Nevada Copper has
satisfactorily responded to all comments. The 30-day public comment
period started on July 26 and will be complete on August 26,
2013.
Tim Dyhr, Vice President Environment and External Relations
stated: Timely receipt of permits reflects the detailed engineering
and environmental analyses we have performed to design an
environmentally sound mine project and the collaborative
relationship we have developed with County, City and State
officials. That design integrates concurrent reclamation into
operations; conserves water by reducing water demand by 65% for
tailings management; and provides for other environmental
management practices that will be implemented during construction
and operations."
Lyon County Economic Development Bill
The U.S. Congress will be on break in August and returns to
Washington D.C. on September 9. The Senate version of this bill (S.
159) has been reported out of the Senate Energy and Natural
Resources Committee. Senator Reid and Senator Heller are working to
include this bill in an upcoming floor vote. The identical House
version of the bill (H.R. 696) is awaiting action in the House
Natural Resources Committee, after which it can be voted on the
floor of the House. Congressman Amodei and Horsford continue to
consider the bill their top priority. Congressman Amodei has
indicated to the Company that he expects H.R. 696 to be considered
during the first work session when Congress reconvenes in
September, and he expected to see final passage of the bill before
the end of the year. Lyon County, the City of Yerington and Nevada
Copper are supporting the Congressional delegation and are
confident this bill, with over $1 billion to construct, 900
permanent employees and over $300 million in direct expenditures
per year, will be passed this year.
Stage 2 Open Pit Feasibility Study
Further to our press release dated April 23, 2013 the Company is
currently completing a standalone, Stage 2 open pit feasibility
study. The feasibility study contemplates mining the Western open
pittable deposits, includes the recently increased mineral
resources and higher throughput production rates in the range of
70,000 to 75,000 tons/day. TetraTech, an industry leading
international engineering firm was engaged to complete the
feasibility study. Completion of this feasibility study is targeted
for release in September 2013.
For additional information about Nevada Copper please visit our
website at www.nevadacopper.com.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
Cautionary Language: We seek safe harbour.
Contacts: Eugene Toffolo VP, Investor Relations &
Communications 604-683-8266 Toll free:
1-877-648-8266etoffolo@nevadacopper.com Robert McKnight, P.Eng.,
MBA Executive Vice President & CFO
604-683-1309bmcknight@nevadacopper.com
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