Colossus issued environmental licence for Serra Pelada
2010-03-09 08:06 ET - News Release
Ms. Elina Chow reports
COLOSSUS MINERALS INC: PRELIMINARY ENVIRONMENTAL LICENSE APPROVED FOR SERRA PELADA
Colossus Minerals Inc. has been issued a preliminary environmental licence for the Serra Pelada project held by Serra Pelada Companhia de Desenvolvimento Mineral (SPC), a joint venture company controlled by Colossus and of which COOMIGASP (Cooperative de Mineracao dos Garimpeiros de Serra Pelada) is the minority shareholder.
The approval of the licence by COEMA, the Environmental Council of Para State, Brazil, constitutes a decision that the Serra Pelada project, including the facilities associated with the proposed precious-metal mine, processing plant, and all related infrastructure and access, such as roads and powerlines, are environmentally feasible.
The licence contains all of the conditions for issuance of the balance of the environmental permits required for the Serra Pelada project, namely an installation licence for construction and an operating licence for operating activities. These conditions were specified in COEMA's meeting held on Feb. 26, 2010, and were all consistent with the environmental impact statement filed by SPC when it applied for the licence. The approval follows an extensive technical review and public hearing process conducted by the Para State Environmental Control Secretariat. Throughout this process, the Serra Pelada project was overwhelmingly supported by local communities.
"The approval of our preliminary environmental licence is a green light for Colossus and COOMIGASP to proceed, and confirms that there are no major environmental issues affecting the Serra Pelada project," stated Ari Sussman, chief executive officer of Colossus. "Serra Pelada is a unique high-grade deposit with a rich history in Para state, Brazil, and this approval is an important step in fulfilling the lifelong dream of all of the members of COOMIGASP to see the project reach commercial production. This project will provide long-term employment, create infrastructure within the state and elevate the living standard of the local communities."
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