General Moly Granted Permission to Build Power Supply for Mt. Hope

General Moly (NYSE:GMO, TSX: GMO), announced that they have received permission to construct a power line that will support their Mt. Hope Project.

As quoted in the press release:

At full production the Mt. Hope mine will have a total electrical demand  load of approximately 75 megawatts. Transmission capacity was secured in 2008 with a cash deposit of approximately $13 million. The Company is currently negotiating for generating capacity, which will be available  once the power line is constructed and energized.

General Moly’s COO, Bob Pennington, said:

This permit allows us to build the transmission infrastructure in a timely  manner and provide the necessary capacity to power everything from the  electric shovels we will begin to use during pre-stripping operations to the 60,000 ton per day mill which will start up when Mt. Hope begins production.

To view the whole press release, click here.

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