TORONTO, April 30 /CNW/ - Inmet Mining Corporation (IMN-TSX) announced
today that Cobre Las Cruces, S.A. has been notified by the Spanish Water
Authority, Confederacion Hidrografica del Guadalquivir (CHG), of its concerns
regarding the operation of the dewatering and reinjection system (DRS) at the
Las Cruces project. The DRS is a system of wells around and within the Las
Cruces open pit that removes water from the surrounding aquifer and re-injects
it into adjacent wells in order to prevent water from flowing into the pit,
thereby protecting the regional aquifer.
The concerns raised by CHG relate to the specific conditions of the
authorization for the construction and operation of the DRS system that was
issued in 2003. CHG has indicated that any non-compliance with the 2003
authorization may result in the temporary suspension of the authorization for
the DRS system.
Las Cruces has responded in detail to the concerns raised by CHG and is
of the view that the DRS is functioning as designed and contemplated in the
authorization. Las Cruces will make every effort to fully cooperate with CHG
to resolve its concerns.
If the DRS authorization is suspended, the timing of the direct ore
shipping could be impacted as mining activities could not be carried out. Any
such suspension would not however impact the completion schedule for the plant
as construction would continue.
Forward looking information
Securities regulators encourage companies to disclose forward-looking
information to help investors understand a company's future prospects. This
press release contains forward-looking information. These are
"forward-looking" because we have used what we know and expect today to make a
statement about the future. Forward-looking statements usually include words
such as may, expect, anticipate, and believe or other similar words. Capital
and operating cost estimates are forward-looking statements, and are based on
assumptions that we believe to be reasonable. However, actual events and
results could be substantially different because of the risks and
uncertainties associated with our respective business or events that happen
after the date of this press release. You should not place undue reliance on
forward-looking statements.
About Inmet - Inmet is a Canadian-based global mining company that
produces copper, zinc and gold. We have interests in four mining operations in
locations around the world: Cayeli, Pyhasalmi, Troilus and Ok Tedi. We also
have interests in two development properties, Las Cruces and Cerattepe, and
one pre-development property, Petaquilla.
This press release is also available at www.inmetmining.com.
For further information: Jochen Tilk, President and Chief Operating
Officer, (416) 860-3972
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