Good Morning,
EMED Mining Public Limited (�EMED Mining� or �the Company�) is pleased to provide this update for good order of activities at Rio Tinto Mine (�Proyecto Rio Tinto� or �PRT�) which have received some community comment and media coverage in Spain.
Industrial Park
The Junta de Andaluc�a (�the Government�) has announced the location of an industrial park planned for the district near PRT (the �mining district� or �Cuenca Minera�). It will entail a �20 million investment by the Government on a 35 hectares site selected for its proximity to planned transport infrastructure. The Company�s plans complement this initiative: the park will host local service providers whilst PRT�s estimated annual operational expenditures after the proposed restart of operations will be circa �100 million and will foster their enterprise development in the long term.
Workforce Recruitment Processes being Established
An aspect of project planning to achieve production in 2011 is the preparations for recruitment of over 300 personnel. Accordingly the Company will shortly appoint a Personnel Manager who will report to the General Manager Legal Affairs and Human Relations and be integrally involved in planning the organisational recruitment, training and induction programs of suitable applicants. In addition, the Company and the unions have agreed to formally open negotiations for the workplace agreement to be introduced to PRT to ensure organisation structure and work practices are updated and internationally competitive.
Due Diligence Experts Appointed for Regulatory Certification of Operating Plans
A number of additional independent technical experts have started working with the Company�s team at PRT and include APPLUS for occupational health and safety, EYGEMA for environmental management and restoration plans, EPTISA for the tailings dam integrity and capacity and CGS for certifying the waste dump plans. The commencement of certain tasks was delayed due to two local landholders restricting land access but this was rectified by Government intervention. There has recently been exceptionally heavy rainfall at Rio Tinto and the Company has also ensured the appropriateness of site rainwater-management policies, procedures and practices.
EMED Mining Managing Director, Mr Harry Anagnostaras-Adams said,
�There is heightened media, community and shareholder interest in activities at PRT as momentum builds for proposed production next year and we are pleased to continue to provide regular updates of progress.�
Enquiries
EMED Mining
Harry Anagnostaras-Adams +357 9945 7843
Fox-Davies Capital
Jason Bahnsen +44 (0)207 936 5230
RFC Finance
Stuart Laing +618 9480 2500
Bishopsgate Communications
Michael Kinirons +44 (0)207 562 3350
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Thank you for your interest in EMED Mining.