The Conversation (0)
Nevada Copper Corp. (TSX:NCU) reported that the United States House of Representatives has unanimously passed H.R. 5205, or the Northern Nevada Land Conservation and Economic Development Act. The bill included the Lyon County Economic Development and Conservation Act, or the Lyon County Bill, which will allow for permitting of Nevada Copper’s Stage 2-7,000 ton per day open pit mine. The company expects permitting for the project to be finalized in early 2015.
As quoted in the press release:
Attention now turns to passage of the Lyon County Bill in the Senate. Both Majority Leader Senator Harry Reid (Democrat-Nevada) and Senator Dean Heller (Republican-Nevada) have previously stated their support when it was introduced on a bi-partisan basis in the Senate in 2013. Passage of the Lyon County Bill by the Senate would allow for signature into law by President Obama in 2014. Once signed into law, the land acquisition must be completed within the six month period mandated by the Bill. During this period, Nevada Copper would complete the remaining Stage 2 State permitting. Local and state officials are urging quick passage in the Senate, considering that the Lyon County Bill is not controversial and would have major economic benefits in one of the most economically depressed communities in Nevada and the nation.
Nevada Copper president and CEO, Giulio Bonifacio, said:
This is a significant milestone in our joint effort with Lyon County and the City of Yerington to pass the Lyon County Bill. Enactment of this Bill greatly enhances our ability to become fully permitted by early 2015 on our much larger Stage 2, open pit mine. Our Stage 2 open pit mine currently represents proven and probable reserves of over 4.1 billion pounds of copper with a mine life of 22 years and annual average production of over 220 million pounds in the first 5 years.
Click here to read the Nevada Copper Corp. (TSX:NCU) press release
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