Nevada Copper Receives Special Use Permit and Provides Update on Land Bill
25 Junio 2013 - 7:00AM
Marketwired
Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or "Company") is
extremely pleased to announce receipt of its Special Use Permit
from Lyon County on June 11, 2013. We also provide an update on the
permits and Lyon County Economic Development and Conservation Act
("Land Bill") for its 100% owned Pumpkin Hollow Property located
near Yerington, Nevada.
Status of State and Local Permits
On June 20, 2013, the Lyon County Commission unanimously
approved the County Special Use Permit for the Stage 1 underground
project, also referred to as the Private Land Underground Mine
("PLUM"). This was following a unanimous, 7-0 vote, by the Lyon
County Planning Commission on June 11, 2013 recommending
approval.
Approval of the Special Use Permit is considered an extremely
critical milestone and confirms that there is overwhelming local
support for the project. It also assists Nevada state regulators to
complete their review in a timely manner. In many cases, local
opposition requires the state regulators to take much longer to
adequately address local concerns. Nevada Copper believes that the
local support has and will continue to expedite completion of the
Water Pollution Control and Air Pollution Control permits.
The Nevada Division of Environmental Protection ("NDEP")
previously issued the reclamation permit for the project (see June
10, 2013 New Release) without receipt of any comments. NDEP is now
in the process of finalizing the Water Pollution Control Permit and
Class II (minor source) Air Pollution Control Permit. Both these
permits are being finalized and will begin their 30-day public
notice period shortly with both permits expected by early August
2013.
Giulio Bonifacio, President & CEO stated: "We are extremely
pleased with the nature in which we continue to advance the project
with significant developments on the state permitting front which
will allow us to commence construction and achieve commercial
production in 2015 of our Stage 1 underground operation. We are
also very pleased with the developments on the Land Bill which will
allow us to then move forward with a much larger Stage 2 open pit
operation."
Land Bill
The Senate Committee on Energy and Natural Resources passed the
Lyon County Economic Development and Conservation Act (S. 159 or
"Land Bill") on June 18, 2013. It passed amongst 11 other bills
that were voted on "en bloc" that were designated as
non-controversial with no objections or debate.
The Land Bill would convey approximately 10,400 acres of land to
the City of Yerington, placing the entire Pumpkin Hollow project
under local and Nevada state oversight. Combined with Nevada
Copper's 1,500 acres of private land, the bill would provide
approximately 11,900 acres total for mine development; power, water
and road infrastructure that in turn would provide the City with
lands for ancillary commercial and industrial development; and, it
would facilitate development of a nationally marketable
recreational complex envisioned by the City and Lyon County.
When asked about the Special Use Permit and Land Bill, Lyon
County Commissioner Virgil Arellano, stated: "The County Commission
has done its part to move this project forward. Our County is
desperate and hurting. We just laid off eleven more people last
week - friends and neighbors. Though the underground project is
welcomed, the larger open pit project is critical and necessary for
Lyon County to survive. We have 52,000 residents looking at Pumpkin
Hollow hoping, praying and waiting for passage of the bill.
Congress needs to pass this bill."
The full, integrated underground and open pit operation that
would be facilitated by the Land Bill will triple the size of the
project in terms of capital investment from $330 million to over $1
billion, more than doubles the long term workforce from 430 to over
900, and increases local property and other tax revenues from $6-8
million to approximately $20 million per year. No other land bill
in Congress can claim those types of economic benefits over
approximately a 20year period.
Tim Dyhr, Vice-President of Environment and External Relations
for Nevada Copper, stated: "This bill reflects the level of effort
by local leaders and by Majority Leader Reid (D-Nev.) and Senator
Heller (R-Nev.) to craft a comprehensive and balanced U.S. Senate
bill that has bi-partisan support. It would facilitate one of the
most compelling sustainable development opportunities for a mine
project in the world. We continue to be encouraged by progress on
the land bill. We want to thank the Nevada Congressional delegation
for working so hard on this bill."
The Land Bill now must be passed by the full Senate. In the
House, the identical companion bill, H.R. 696, must be passed by
the House Natural Resources Committee, and by the full House. With
passage in both Houses of Congress, the President can then sign the
Land Bill into law. Senator Reid has stated that this can be done
by September 2013.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
Cautionary Language: We seek safe harbour.
Contacts: Nevada Copper Corp. Eugene Toffolo VP, Investor
Relations & Communications 604-683-8266 or Toll free:
1-877-648-8266etoffolo@nevadacopper.com Nevada Copper Corp. Robert
McKnight, P.Eng., MBA Executive Vice President & CFO
604-683-1309bmcknight@nevadacopper.com www.nevadacopper.com
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