Augusta Resources Facing Challenges With Water Permits

The Wall Street Journal reported that Augusta Resources (TSX:AZC) is facing issues with water permits for its Rosemont project in Arizona. Augusta says that it plans to use a number of advanced water conservation techniques, but that isn’t enough for some residents, according to the Journal. Augusta resources has had to fend off a hostile takeover from Hudbay Minerals (TSX:HBM), who criticized Augusta’s permitting delays for Rosemont.

As quoted in the publication:

Opponents to Augusta’s project argue the mine will take away water needed by local residents, driving up prices, and poses a danger of pollution. “Our concern is that we are taking groundwater that’s drinking quality water that took millions of years to create geologically, and using it for something that’s potentially polluting,” says Nan Walden, vice president of Green Valley Pecan Co., which farms pecans on an 8,000-acre strip, a 14-mile stretch of hefty trees harvested with a machine that shakes the nuts lose with a giant claw. “We’re saying it’s inappropriate to license a new mining operation that brings in a new requirement for water.” Green Valley is a leading opponent to the proposed mine.

Click here to read the full Wall Street Journal Article.