Nevada Copper Corp. (TSX:NCU) obtained its Water Pollution Control Permit, which is one of the two remaining State permits that will allow for full construction and operation of the Stage 1 underground project. The Company is expecting its Air Pollution Control Permit within the next 20 days, which is the final permit needed for the Stage 1 underground operation.
As quoted in the press release:
Water Pollution Control Permit
Further to our press release dated July 16, 2013 the Nevada Department of Environmental Protection (“NDEP”) issued the Water Pollution Control Permit on August 23, 2013.
On July 10, 2013, NDEP issued the 30-day Public Notice to issue the modified WPCP. This 30-day public review was completed on August 9, 2013. During the 30 days comment period, no comments were received. Our Reclamation Permit was also previously issued with no public comments.
The current Water Pollution Control permit is a modification of a previous water pollution control permit that Nevada Copper received in 2008. This permit was obtained in order to sink a 2,140 foot, 24-foot diameter production-sized shaft. A production-sized hoist and head-frame have been constructed and shaft sinking is currently in progress, with a target for completion by Q2-2014.
Air Pollution Control Permit (“APCP”)
Nevada Copper expects to receive its Class II Air Pollution Control Permit, a “minor” air permit, within the next 20 days.
The NDEP, Bureau of Air Quality deemed the APCP application administratively complete on June 26, 2013 and entered a 60-day technical review. NDEP has completed their technical review of the emissions inventory and dispersion model and Nevada Copper has satisfactorily responded to all comments. The 30-day public comment period started on July 26 and will be complete on August 26, 2013.
Nevada Copper Corp. President and CEO, Giulio Bonifacio, said:
We continue to execute and achieve all our defined project and financing milestones for purposes of achieving commercial production in 2015. All permits for our Stage 1 underground operation have now been received with only the Air Quality Permit remaining which we expect within the next 20 days. With our recently completed Red Kite financing totaling US$200 million and current treasury, we expect to fund a significant portion of the remaining project capital by way of an equipment lease and precious metal stream. We are fast approaching our most significant corporate and project milestone – a fully permitted and funded project with minimum dilution to our shareholders.