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Nevada Copper Corp. (TSX:NCU) reported that the Lyon County Economic Development and Conservation Act has been included in the National Defense Authorization Act. Once this has been signed into law, acquisition and transfer of the land to the City of Yerington must be completed by the Bureau of Land Management, and Nevada Copper can complete permitting.
As quoted in the press release:
Nevada Copper is very confident that the NDAA, and thus, our land bill, will pass. Once signed into law by President Obama, the legislation requires that legal acquisition and transfer of the land to the City of Yerington must be completed by the Bureau of Land Management within 180 days of passage. During this period, Nevada Copper would work to complete the remaining Stage 2 State permitting. The Company and the City of Yerington have already been collaborating on work needed to meet that 180-day deadline and sets the stage for issuance of all key Stage 2 permits by Q2-2015. Passage of the bill also has positive cost implications for the Stage 1 and Stage 2 projects.
Nevada Copper President and CEO, Giulio Bonifacio, said:
We are very pleased to hear that our bill has been included in the NDAA. We are advised by the Nevada Congressional delegation and our Washington representatives that the NDAA, as now published, has broad bipartisan support in the Senate and House. Senator Heller and Reid have announced that they expect this bill to pass in both the House and Senate by next week.
Click here to read the Nevada Copper Corp. (TSX:NCU) press release
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