Nevada Copper Corp. (TSX:NCU)
Historical Stock Chart
2 Years : From Oct 2012 to Oct 2014
Nevada Copper Corp. (TSX:NCU) ("Nevada Copper") is pleased to announce that Senator Harry Reid and Senator Dean Heller have introduced the Lyon County Economic Development and Conservation Act into the U.S. Senate.
This legislation incorporates the Yerington Land Conveyance and Sustainable Development Act, in its original form that was introduced in both the U.S. House of Representatives and the U.S. Senate earlier this year. That bill was passed by the House in June 2012 and the Senate bill was pending a hearing.
Timothy M. Dyhr, Vice President, Environment and External Relations, commented, "We are very pleased that this revised bill has now been introduced and can be acted upon at any time. There are several critical bills being considered in the lame duck session of Congress, and high priority actions like this are often combined for passage before Congress adjourns."
The primary difference between this bill and the previous bill was the inclusion of a wilderness component, referred to as Wovoka, approximately 20 miles from Pumpkin Hollow. Local wilderness advocates, with support from state and national wilderness groups, and from Senator Reid, have sought wilderness designation here for over five years. This time Senator Reid asked local stakeholders, including Lyon County and City of Yerington, to develop a compromise proposal with local input and support so that this matter could finally be resolved.
Lyon County, the City of Yerington and Nevada Copper have worked intensely over the past three months to develop a compromise that designates a compromise wilderness area, yet protected existing grazing, public access, mining uses as well as priority needs for the area.
Senator Reid and Heller have issued a joint press release in support of the combined bill:
Senator Harry Reid stated: "My father was a miner. I've worked in the mines. I know how important mining has always been for the state of Nevada, and for the first time in a long time Yerington is going to benefit from mining, I am very happy to be part of this legislation which will create lots of jobs in Lyon county, which are so desperately needed. This bill also designates the Wovoka wilderness area, a place with special cultural and natural resources that are worthy of a high level of protection so future generations can continue enjoying them. It's a bill that's going to meet the needs of modern day Nevada."
Senator Dean Heller stated; "Lyon County has the highest unemployment rate in the state and this legislation will bring more than 800 jobs to the area. Mining is a critical component of Nevada's economy and we are fortunate to have resources in our own backyard for economic development. This legislation is the result of the hard work of Lyon County, Yerington, and all the local residents who came together to get the deal done. There is no doubt that this bill will provide some much-needed relief at a time when Nevadans are desperate for jobs."
Nevada Copper looks forward to passage of this bill. However, as previously stated, the company continues to work toward receipt of State permits by the end of the first quarter of 2013. Nevada permit applications were submitted in July 2012 for both a Stand-Alone High Grade Underground mine and mill located entirely on private land; and, Integrated Operation and single process facility. Nevada Division of Environmental Protection recently met with Nevada Copper to review the proposed project and has provided its technical comments on the Water Pollution Control Permit. Responses to those comments will be submitted in mid-January 2013.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
We seek safe harbor.
Nevada Copper Corp.
VP, Investor Relations & Communications
604-683-8266 or Toll free: firstname.lastname@example.org
Nevada Copper Corp.
Robert McKnight, P.Eng.
Executive Vice President & CFO