Business
Underground Mining Application Approved
Underground Mining Application Approved.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n \n Ortac Resources Limited 13 June 2014 \n \n\n13 June 2014\nOrtac Resources Ltd\n(\"Ortac\" or \"Company\")\nŠTUREC DEPOSIT, UNDERGROUND MINING APPLICATION APPROVED\nResumption of Gold and Silver Mining at Šturec\nOrtac Resources Ltd, the AIM listed exploration and mine development company is pleased to report that the Slovak Central Mining Bureau has confirmed the decision of the Regional Mining Bureau, Banska Bystrica to approve Ortac's application to begin trial underground mining at its Šturec deposit in Slovakia. \nWith the decision now in hand, it is the Company's intention to start mining imminently, with a view to batch process the mined ore at a processing facility in the region. This means that after a break of nearly 20 years, Šturec will once again be mined, and the requirements of the Kremnica Mining License will also be satisfied. Today's announcement follows on from releases dated 20 December 2013, 21 February 2014, 7 April 2014, and 8 May 2014 issued in connection with this matter. \nPursuant to today's announcement, Mr Viktor Pomichal will step down as Managing Director of Ortac Slovakia. Viktor has achieved the Company's goal of re-establishing mining operations at Šturec. We thank Viktor for his hard work and wish him well in his future endeavours. Viktor has agreed to assist the management of Ortac in an advisory capacity as required. \nIng Peter Čorej PhD, a Slovak Mining Engineer with more than 30 years of experience, and who led the development of the Trial Underground application, will formally manage the mining programme. Mining operations will be undertaken by an independent local mining contractor selected through a procurement process. Ultimate regulatory oversight of the operations will be conducted by the Slovak Mining Bureau. Ortac will also be working closely with the local community and the environmental authorities to ensure that highest environmental and social standards are delivered and adhered to. \nVassilios Carellas, Ortac CEO, said:\n\"After a thorough engagement process with stakeholders and regulatory agencies, the confirmation by the Central Mining Bureau of the Regional Mining Bureau's decision, to allow underground mining is an important step in the development of Šturec. Further, it demonstrates that with a healthy ...