The company said that with all key permits in place and effective, Excelsior will be in position to commence construction upon the completion of its project financing plan.
Excelsior Mining(TSX:MIN) has announced that a settlement agreement has been concluded that will result in the dismissal of the appeal filed with respect to the company’s class III underground injection control (UIC) area permit for the Gunnison copper project in Arizona.
As quoted in the press release:
On June 22, the Environmental Protection Agency issued Excelsior the UIC Permit with an effective date of August 1, 2018. An appeal of the UIC permit was subsequently filed by a coalition of non-governmental organizations. All appeals are reviewed by the Environmental Appeals Board (the “EAB”). As per the terms of the agreement, Excelsior, the EPA, and the petitioners have submitted to the EAB a joint stipulated motion to dismiss the appeal. It is anticipated that the EAB will accept the joint motion to dismiss the appeal which, subject to notice by the EAB, will prompt the EPA to lift the stay, thereby resulting in the UIC permit becoming effective with permanence.
The agreement provides for additional monitoring wells and certain other matters. The agreement does not take the place of the extensive protective measures, monitoring and reporting requirements of the Federal EPA UIC permit and the State ADEQ Aquifer Protection Permit. However, it does provide for additional items that are a benefit to local stakeholders.
With all key permits in place and effective, Excelsior will be in position to commence construction upon the completion of its project financing plan. Excelsior’s Gunnison Copper project remains poised to be the next new copper producer in the United States.