Augusta Provides Permitting Update on its Rosemont Copper Project
DENVER, CO, Feb. 23, 2012 /PRNewswire/ - Augusta Resource Corporation (TSX/NYSE Amex: AZC) (“Augusta”) provides an update on the U.S. Forest Service (USFS) draft
Environmental Impact Statement (EIS) regarding review from the regional
Environmental Protection Agency (EPA) for its Rosemont Copper project.
The San Francisco Environmental Protection Agency office is the final
agency to submit comments to the USFS on the draft EIS, joining the
25,000 comments of which approximately 10,000 have been characterized
as form letters or duplicates by the USFS. The EPA review was provided
approximately 30 days past the official close of the public comment
period, due to a request from the EPA to the USFS for additional time.
The receipt of these comments now allows the USFS to complete its
response to comments, and a final EIS for the Rosemont Copper project
along with the Record of Decision.
“This is a standard part of what a regional EPA office does,” said Rod
Pace, Rosemont Copper’s president and CEO. “It’s part of the rigorous
review process that leads to a robust final EIS required by the
National Environmental Policy Act.”
The next steps for Rosemont Copper will be to finalize the air and
aquifer protection permits by the State of Arizona, complete the Fish
and Wildlife Service consultation process and develop the draft
mitigation plans for species protection, mine reclamation and site
closure. Much of the technical and analytical work to complete these
next steps has already been completed and peer-reviewed, including
hydrology studies and air modeling for the project site. The
peer-review process has been on-going for more than two years.
“Our leadership has always understood that our project would receive the
highest scrutiny from all local state and federal agencies,” Mr. Pace
added. “We want to build a mine, using the latest technologies and
highest standards for conservation and protection of air and water resources. The extensive review of the draft EIS by the EPA, as well as
all of the other commenting agencies, produces the input needed by the
USFS to produce the most defendable final decision documentation
possible.”
In addition to the final comments on the draft EIS, the EPA is
continuing its role to provide comment on the ACOE’s 404 permit
application for Rosemont Copper. The EPA has submitted a 3b letter,
which was issued last week, allowing the EPA to preserve their position
for future discussions and negotiations as the final Section 404 permit
documentation is drafted. An outline of the review/elevation process is
included at the end of this press release.
The Rosemont team is committed to work with the USFS, ACOE and EPA to
ensure that all questions are answered fully and successfully and that
the project meets all standards addressed by the more than 300 studies
and technical reports conducted over the past six years.
About Augusta
Augusta is a base metals company focused on advancing the Rosemont
Copper deposit near Tucson, Arizona. Rosemont hosts a large
copper/molybdenum reserve that may account for about 10% of US copper
output once in production in 2014 (for details refer to www.augustaresource.com). The exceptional experience and strength of Augusta’s management team,
combined with the developed infrastructure and robust economics of the
Rosemont project, propels Augusta to becoming a solid mid-tier copper
producer. The Company trades on the Toronto Stock Exchange and the NYSE
Amex under the symbol AZC.
CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING INFORMATION
Certain of the statements made and information contained herein may
contain forward-looking statements within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
forward-looking information within the meaning of applicable Canadian
securities laws. Such forward-looking statements and forward-looking
information include, but are not limited to statements concerning: the
Company’s plans at the Rosemont Project; estimated production; and
capital and operating and cash flow estimates. Forward-looking
statements or information include statements regarding the expectations
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Forward-looking statements or information include, but are not limited
to, statements or information with respect to known or unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements or
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Forward-looking statements or information are subject to a variety of
risks and uncertainties which could cause actual events or results to
differ from those reflected in the forward-looking statements or
information, including, without limitation, risks and uncertainties
relating to: history of losses; requirements for additional capital;
dilution; loss of its material properties; interest rates increase;
global economy; no history of production; speculative nature of
exploration activities; periodic interruptions to exploration,
development and mining activities; environmental hazards and liability;
industrial accidents; failure of processing and mining equipment;
labour disputes; supply problems; commodity price fluctuations;
uncertainty of production and cost estimates; the interpretation of
drill results and the estimation of mineral resources and reserves;
legal and regulatory proceedings and community actions; title matters;
regulatory restrictions; permitting and licensing; volatility of the
market price of Common Shares; insurance; competition; hedging
activities; currency fluctuations; loss of key employees; as well as
those factors discussed in the section entitled “Risk Factors” in the
Company’s Annual Information Form dated March 29, 2011. Should one or
more of these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from
those described in forward-looking statements or information.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information. The Company disclaims any
intent or obligation to update forward-looking statements or
information except as required by law, and you are referred to the full
discussion of the Company’s business contained in the Company’s reports
filed with the securities regulatory authorities in Canada and the
United States.
SOURCE Augusta Resource Corporation
PDF with caption: “Permit Issuance”. PDF available at: http://stream1.newswire.ca/media/2012/02/23/20120223_C6684_DOC_EN_10344.pdf
