Eurasian Minerals Inc. (TSXV:EMX,NYSE:EMXX) provided an update on its exploration programs in Haiti. The Company and its joint venture partner, Newmont Ventures Limited, a wholly owned subsidiary of Newmont Mining Corporation, have been exploring a land position along Haiti’s Massif du Nord mineral belt. Several exploration targets are ready for initial drill testing, but the Government of Haiti has deferred further consideration for its pending approval of the research permits. In addition, the Grand Bois gold-copper project has been placed on care and maintenance status.
As quoted in the press release:
Recently, the World Bank agreed to assist the Government of Haiti in its efforts to reform the country’s mining law to be more consistent with current international standards. EMX and Newmont participated in a two-day conference in Port-au-Prince co-sponsored by the World Bank to engage the various stakeholders in the process of reforming Haiti’s mining law. While revisions to the mining law are pending, the Government has deferred further consideration of the Joint Venture’s request for the Research Permits that would cover the six Designated Projects, as well as EMX’s request for an extension of the Grand Bois Research Permit. As a consequence, Newmont has placed the Joint Venture’s Designated Projects on care and maintenance status, but continues with its community relations programs. EMX considers the deferral of its request for an extension of the Grand Bois Research Permit to be a force majeure event and has also placed its Grand Bois project on care and maintenance status. The Company remains committed to advancing the mining industry’s contribution to Haiti’s economic development, and looks forward to working with the Government of Haiti in its effort to bring the mining law to current international standards.
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