10th Nov 2011, 7:16 am by Jamie Ashcroft

EMED Mining (LON:EMED, TSE:EMD) continues to work towards completing all of the necessary documentation so that it can move onto the next stage of the Rio Tinto mine re-start project.

In today’s quarterly results statement managing director Harry Anagnostaras Adams told investors that the group’s current focus is on permitting, project planning and financing.

"We are pleased with the Government and all major political parties support to restart the Rio Tinto Mine in third quarter 2012 so that we can commence commissioning by end-2012 and ramp up to steady-state ore production of 9 million tonnes per annum in 2014,” Adams said.

The AIM quoted mine developer highlighted the group’s recent progress in the statement.

Things have moved forward somewhat since EMED completed and submitted the latest batch of documents requested by the Junta de Andalucia at the end of September.

“The Junta de Andalucia has confirmed its support for the Company's plans to restart the Rio Tinto Mine,” EMED said. “The actions of the Government are indicative of wanting to achieve a project restart in third quarter 2012.

“All major political parties, all local mayors and the union representing our personnel have openly declared their support for the Company and the restart of the Rio Tinto Mine.”

This week the firm told investors that it has received indicative terms sheets for the project financing for the mine restart.

Proposals have been received from several project financiers, the company said. Such proposals include debt funding covering all of the anticipated capital requirements for the mine restart project.

EMED says it has a “good range” of choices for financing. The company emphasised that it has a strong shareholder base, interest from copper buyers and debt-based proposals.

The company explained that in the current quarter the intended next steps are the conditional approval of the enlarged restoration plan and of Administrative Standing. This will ensure access to third party lands as required, it said.

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