DENVER, Jan. 23, 2012 /PRNewswire/ – Augusta Resource Corporation (TSX/NYSE Amex: AZC («Augusta» is pleased to announce the completion of the public
hearings on the draft EIS and to provide an update on the permitting
process for its Rosemont Copper project.
USFS Environmental Impact Statement
The final public hearing on the Rosemont draft EIS was held on January
14, with a public comment submission deadline scheduled for January 18,
2012. The USFS Coronado National Forest has extended this comment
submission period for the draft EIS from January 18, 2012 to January
31, 2012 due to a technical problem when their email server went down
on January 18, 2012. The Coronado National Forest’s email inbox had
rejected comments during the last hours available for submission of
public comments. The Company supports this time extension to ensure
that all comments can be received without technical difficulty. Work by
the USFS continues unabated to analyze and answer comments as received.
Augusta sees no material impact on the project’s schedule from this two
week extension.
ACOE 404 Permit
The U.S. Army Corps of Engineers (ACOE completed their 45-day public
comment period for the draft Clean Water Act 404 permit on January 19,
2012. As part of the comment process, the U.S. Environmental Protection
Agency (EPA, as an advisory agency, has submitted a letter to the ACOE
identifying the Rosemont permit as a candidate for review by the EPA
and ACOE headquarters. The letter was expected and typical of projects
of this magnitude. The full environmental impact statement (EIS of
the Rosemont Copper project, under the lead of the U.S. Forest Service
(USFS, includes extensive analysis and reviews conducted and completed
by technical experts and the numerous Federal and State agencies that
address the impact items listed in the EPA letter successfully and
adequately.
The EPA letter to the ACOE identifies those subject areas that the EPA
wishes to review in detail with the ACOE. The Rosemont team will
continue to work with the ACOE and EPA team to ensure that the EPA’s
questions are answered fully and that the project meets the Clean Water
Act compliance standards. Although the EPA plays an important advisory
role in the 404 permit application process, the agency does not
actually issue a permit during this process, the permitting role is
reserved for the ACOE.
Other Permits
The Arizona State Line Siting Committee issued its Certificate of
Environmental Compatibility (CEC to the Tucson Electric Power Company
on December 19, 2011. The CEC specifies the selected route for the
transmission line to the Rosemont Copper project, which runs parallel
to the project’s water pipeline.
In addition, the ADEQ held a public hearing on January 5, 2012 and will
complete their public comment period for the draft Aquifer Protection
Permit on February 3, 2012.
«We continue with our efforts to keep the Rosemont project on track and
we are pleased with our progress as well as the tremendous support
Rosemont has received from the public, local community groups, state
trade and labor associations and the business community,» commented Gil
Clausen, Augusta’s President and CEO. «The Rosemont Copper team has
designed a modern, low impact mine. They have worked with the various
agencies to ensure that our project complies with all legal
requirements and that the permitting process progresses in a timely
manner. We remain focused on that commitment and in keeping to our
schedule to commence project construction in the third quarter of
2012.»
For a complete list of permits already received please visit Augusta’s
website (www.augustaresource.com.
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
and beliefs of management. Often, but not always, forward-looking
statements and forward-looking information can be identified by the use
of words such as «plans», «expects», «is expected», «budget»,
«scheduled», «estimates», «forecasts», «intends», «anticipates», or
«believes» or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results «may»,
«could», «would», «might» or «will» be taken, occur or be achieved.
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
information.
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.
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