Great news Thursday and a nice pop on the biggest volume in six months. This play in the Baja Peninsula of Mexico is destined to become on of the more profitable copper/zinc plays out there. Reminds of SVM ( Silvercorp ) before they ran.
Baja shines ministry's apple after getting a permit
2006-12-08 09:41 ET - News Release
Mr. John Greenslade reports
ENVIRONMENTAL APPROVAL RECEIVED FOR MINE DEVELOPMENT
The Mexican Federal Environmental Agency (Semarnat) has approved the environmental impact manifest (MIA) for Baja Mining Corp.'s El Boleo copper-cobalt-zinc-manganese project.
This approval allows the company to start construction and operation activities at the Boleo project and is the key step to obtaining other required permits.
Prior to the initiation of exploration or construction activities, all mining projects are required to apply for and obtain an environmental impact authorization and a land use permit from the Mexican federal environmental agency Semarnat. This requires the presentation of an environmental impact manifest and a technical study which deals with the impacts, environmental mitigation and habitat compensation to the satisfaction of the authorities having environmental jurisdiction. The company's environmental impact manifest (MIA) was filed with Semarnat on May 8, 2006, and final approval to the MIA was received from Semarnat on Dec. 7, 2006.
Manuel Moreno, the company's environmental liaison in Mexico City, commented that: "This is a milestone day for the Boleo project with issuance of the main environmental permit for the project now behind us. The approval of the MIA proves that the project is environmentally feasible and clears the way for the approval of other related permits. We would like to thank the many people at Semarnat that so ably assisted in the review and provided many valuable contributions to ensure that the project proceeds in an environmentally sound manner. We would also like to express our thanks and appreciation to the honourable governor of the State of Baja California Sur, Narciso Agundez Montano; to the municipal president of Mulege, Pedro Osuna Lopez, and to the state Secretary for Promotion and Economic Development, Jorge Alberto Vale Sanchez, as well as their staff, for the support and guidance they have provided in obtaining such permitting."
The Boleo project is located within the buffer zone of the El Vizcaino biosphere, a natural protected area, principally established to preserve the whale nursing habitat on the west coast of the Baja peninsula approximately 80 miles north of the project near Guerro Negro. In accordance with the terms of approval the company is required to reach an agreement within 30 days of issuance of the Semarnat approval, with Conanp (Comision Nacional de Areas Naturales Proptegidas) for compensation in regard to environmental disturbance created by mining and processing activities in the biosphere. The company is pleased to advise that an agreement in principle has been reached with CONANP and it expects to be able to announce the execution of such agreement in the immediate future.
The Boleo project is located on the east coast of the Baja California peninsula, approximately 900 kilometres south of San Diego and near the town of Santa Rosalia Baja California Sur, Mexico. Over the last 12 years, in excess of $52.0-million has been spent on exploration, prefeasibility studies and the current definitive feasibility study on the Boleo project, which is nearing completion. Annual production at El Boleo is expected to be approximately 50,000 tonnes per year of high-purity copper metal, 1,850 tonnes of high-purity cobalt metal and up to 23,000 tonnes per year of zinc sulphate monohydrate. Consideration is also being given to production of plus 100,000 tonnes per year of manganese carbonate.
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