EMED Mining Public-Rio Tinto Copper Project Update


NICOSIA, CYPRUS--(Marketwire - Mar 21, 2013) -


21 March 2013

EMED Mining Public Limited

("EMED Mining" or "the Company")

Rio Tinto Copper Project Update

EMED Mining, the Europe-based minerals development and exploration
company, is pleased to provide the following update of its Rio Tinto
Copper Project in Spain ahead of presentations to be given by Company
officers to a scheduled site visit by analysts and an investor forum in

Mr Harry Anagnostaras-Adams, Managing Director and CEO of EMED Mining,
said, "This week we had a series of meetings between our Board of
Directors and the representatives of the Andalucian Government who
oversee the regulatory process for our Rio Tinto Copper Project. We are
pleased to have satisfactorily discussed the proposed conditions of
approval and the process for formalising permission to start the
project works. It seems that all key stakeholders are working to allow
works to be triggered in the second half of 2013."

* As a result of this week's meetings, the Company maintains the
target date of end-2015 for establishing initial base case production
of 37,000 tonnes copper-in-concentrate per annum, with construction
starting in H2-2013 and production in H2-2014.    * Principal regulatory consents required from the Departments of
Environment and Industry for triggering the start in Q3-2013 of
Pre-Works (ie removal of asbestos and other tasks to allow major works
to proceed along with the concomitant mobilisation of contractors and

o Formal approval of the Environmental Plans (AAU):

* The Department of Environment has drafted its conditions of
approval to call for any final comment within 15 days from the
seven third parties which made comments during the public review
period. It is believed that all relevant matters have been
covered in the Company's plans, third parties have no right of
appeal and formal conditional approval is expected during Q2-2013.

o Formal approval of the Administrative Standing (administrative
recognition of the transfer of the Company's Mineral Rights) by the
Department of Industry:

* Administrative Standing requires the regulatory clearance of
economic, technical and legal "capacities" for a viable Project.     The Department has advised that the only outstanding requirements

* the approval of the AAU by the Department of Environment, and

* an opinion from the Central Government's technical review
agency for civil engineering CEDEX (Centro de Estudios y
Experimentacion de Obras Publicas) with regard to the
proposed conditions to be applied to the tailings deposit

* Principal regulatory consents required from the Department of
Industry for triggering in Q4-2013 the full start-up works leading to
commissioning of mining and processing operations:

o Final Restoration Plan:

* Upon the setting of conditions to approval of the Environmental
Plans, the Company will update the Restoration Plan so that it can
proceed to public viewing and approval.

o Project Approval (Mining Permit or Exploitation Rights):

* The independent review of the Project as a whole was completed in
Q4-2012 by the Central Government's technical review agency for
mining, IGME (Instituto Geologico y Minero de Espana). IGME's
supportive formal report was received in Q4-2012.

* The independent review of the tailings deposit for geotechnical
safety is the responsibility of CEDEX. Its initial report with
supportive conclusions was received in Q4-2012 and now stands pending
completion in Q2-2013 of due diligence on sections of the tailings dam
acquired by the Company in August 2012. This will facilitate approval
of final refinements to the tailings deposit in order to ensure safety
margins with respect to Best Available Techniques for environmental,
economic and other relevant criteria.

o Bonding for environmental commitments and protection of personnel

* The Company has started to engage on the matter of the Bonding, which
can only be resolved by the authorities after approval of the Final
Restoration Plan.

* In the meantime, we have implemented the EUR180 million civil
liability insurance on the tailings deposit on a basis pre-agreed
with the regulators.

The Company is excited about the future prospects and is looking
forward to updating the market in due course. For more information
please contact:

EMED Mining Harry Anagnostaras-Adams +357 9945 7843

RFC Ambrian Stuart Laing +61 8 9480 2500

Fox-Davies Capital Simon Leathers/Susan Walker +44 203 463 5022

Bishopsgate Communications Nick Rome +44 207 562 3350

Proconsul Capital Andreas Curkovic +1 416 577 9927

This information is provided by RNS
The company news service from the London Stock Exchange


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