EMED Mining tailings project edges closer to fruition

EMED Mining, the Europe-based minerals development and exploration company, has reported that the Andalucian government has concluded the public comment period for the proposed recognition of Class B resources at the Rio Tinto Copper Project.

Class B resources pertain to the potentially recoverable metal content of waste materials resulting from previous operations when over 1.7m tonnes of copper, 3.4m ounces of gold and 57m ounces of silver were recovered.

The company is to commence the feasibility for the recovery of silver and gold from a section of the tailings deposit, known as the Gossan Dam, in a joint venture with the Andalucian investment group Rumbo 5.Cero.

Harry Anagnostaras-Adams, Managing Director and Chief Executive Officer of EMED Mining, commented: "The tailings recycling joint venture is an important project not only for its potential economic value but also because it can play an important role in the environmental management of the tailings deposit and in maximising its holding capacity.

He added: "Whilst our immediate focus is on the restart of the Cerro Colorado Open Pit, our plan is to extend project life and annual production by targeting to expand the open pit, restart the underground mines, recycle precious metal in the tailings deposit and explore our ancillary tenements."

EMED's share price was up 1.20% to 10.50p at 08:28 on Tuesday.

MF