Printer Friendly

Summo Minerals Lisbon Valley Copper Project Final Environmental Impact Statement issued.

VANCOUVER, B.C.--(BUSINESS WIRE)--Feb. 10, 1997--Summo Minerals Corpo (TSE SMA.) Summo Minerals Corporation is pleased to announce that the last major permitting hurdle prior to commencement of construction and operation at the Lisbon Valley Copper Project located near LaSal, Utah, was completed.

On Feb. 7, 1997 the U.S. Bureau of Land Management (BLM) issued the Final Environmental Impact Statement (FEIS) for the project. The BLM is required to publish a Notice of Availability in the Federal Register for 30 days.

Following this 30-day period the BLM will sign a formal Record of Decision approving the project. This completes an 18 month permitting process on the project, shepherded by Gochnour & Associates, Inc. of Englewood, Colorado.

Prior to completing the FEIS Summo successfully completed necessary permitting activities on the state and local levels.

Financing for final engineering and construction on the project is currently underway. Final engineering is expected to begin in March and construction is scheduled to commence in June.

Construction should be completed by the second quarter, 1998 with initial cathode copper production to follow immediately thereafter.

The project is designed to produce approximately 40 million pounds of cathode copper annually at a cash cost of US0.47/lb. for a minimum of 8 - 10 years, depending upon copper prices. Exploration drilling designed to increase the reserves is planned to begin later this spring.

Mr. Robert L. Mason has joined the board of directors of Summo Minerals Corp., replacing Mr. Matthew J. Mason. Mr. Robert Mason is senior vice president of IntraCorp Developments Ltd., a substantial real estate development corporation based in Vancouver.

Mr. Mason's insights into land-based business transactions and public relations in land-related issues are a welcome addition to the Board. -0- On behalf of the Board of Directors, Gregory A. Hahn, President, C.E.O. -0- Both the Vancouver Stock Exchange and the Toronto Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of this press release.

CONTACT: Summo Minerals Corporation

Clive Massey, 604/687-7545

604/689-5041 (FAX)

1-800-990-9133
COPYRIGHT 1997 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 10, 1997
Words:341
Previous Article:Westward completes financings and updates activities.
Next Article:National Financial unveils MAXXinvest; New Service Provides Internet Trading Through Broker/Dealers.
Topics:


Related Articles
SUMMO MINERALS - POSITIVE FEASIBILITY STUDY DELIVERED FOR LISBON VALLEY COPPER PROJECT.
Summo Minerals Corporation -- Project Financing Engaged for Lisbon Valley.
Summo Minerals - Lisbon Valley Copper Project Draft Environmental Impact Statement Published Project Development Recommended.
Summo Minerals - Lisbon Valley Copper Project Air Quality Permit Received.
Summo Minerals Corp. Signs Power Contract & Sets Acid Delivery Date.
OK NEAR FOR MINE PROJECT SANTA CLARITA READY TO APPEAL EXPANSION.
NORTHEAST VALLEY REDEVELOPMENT DEBATED.
BELT PLAN LIMITS POLLUTION FROM MINE, OFFICIALS SAY.
BRIEFLY : REPORT APPROVED FOR TRANSIT CENTER.
Peruvian town rejects planned gold mine. (Environmental Intelligence).

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters