|By Marketwired .||
|June 26, 2014 02:30 AM EDT||
NICOSIA, CYPRUS -- (Marketwired) -- 06/26/14 -- EMED Mining Public Limited (TSX: EMD) (AIM: EMED)
LSE: EMED TSX: EMD 26 June 2014
EMED Mining Public Limited
("EMED Mining", "EMED" or the "Company")
Approval of EUR 8.8m Grant to EMED Tartessus
for the Rio Tinto Copper Project
EMED, the Europe-based minerals development and exploration company, is pleased to advise that the Government of Andalucía, has announced the awarding of an EUR 8.8 million grant to EMED Mining's Spanish subsidiary, EMED Tartessus, in order to support the modernisation of the Rio Tinto Copper Project facilities.
The grant is constituted with EU funds and administered by the Junta de Andalucía through the Agencia IDEA ("Andalusian Innovation and Development Agency") and is aimed at supporting investment initiatives in Andalucía that show strong potential for innovation and job creation.
EMED applied for the grant in 2013 to subsidise its initial investment in the modernization of the mineral processing industrial plant. The Junta de Andalucía has now approved the announced EUR 8.8 million grant as a subsidy to EMED´s investment. The grant will be payable as a reimbursement of EMED's expenditure as project execution progresses and after due process is completed.
The awarding of this important grant confirms the support of the Junta de Andalucía of EMED´s plans for the reactivation of copper production at its Rio Tinto Copper Project, after the approval of its environmental plans and the transfer of the Rio Tinto Mining Rights ("Administrative Standing").
Click on, or paste the following link into your web browser, to view the associated PDF document.
EMED Mining Isaac Querub/Alberto Lavandeira +34 959 59 28 50 RFC Ambrian Samantha Harrison +44 203 440 6800 Fox-Davies Capital Simon Leathers +44 203 463 5010 Proconsul Capital Andreas Curkovic +1 416 577 9927 Walbrook PR Nick Rome +44 207 933 8783
For further information on the Company's activities, visit www.emed-mining.com
This information is provided by RNS
The company news service from the London Stock Exchange