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Nevada Copper Corp. (TSX:NCU) announced that President Barack Obama has signed the National Defense Authorization Act, which includes the Yerington Land Bill, into law. The bill authorizes the conveyance of Federal land to the city of Yerington within 180 days, putting land for Nevada Copper’s Stage 2 mine at Pumpkin Hollow under state jurisdiction rather than Federal and shortening permitting timelines for the project.
As quoted in the press release:
Section 3009 of the National Defense Authorization Act (“NDAA”), the bill signed by President Obama, directs the sale of 10,400 acres of land from the federal government to the City of Yerington (“Yerington” or “City”). This section of the NDAA is entitled the “Land Conveyance to Yerington, Nevada”. The Company will work with the BLM, consultants and others to ensure the land conveyance is completed before June 17, 2015 within the 180 day period provided for in the law.
Nevada Copper President and CEO, Giulio T. Bonifacio, said:
The land transfer is now law. Nevada Copper has already begun to advance the much larger Stage 2 open pit project on an accelerated basis. In anticipation of enactment, the Company had already initiated preparation of an updated and optimized Stage 2 feasibility study, finalization of State permits and preparation of the development agreement with the City. Since 2008, the Company has a proven track record of getting necessary approvals and permits in a timely fashion, having received them for the advanced exploration shaft and Stage 1 underground mine.
Click here to read the Nevada Copper Corp. (TSX:NCU) press release
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