Business
Copper Mesa Responds to Notice from the Regional Director of Mines of Pichincha, Ecuador
VANCOUVER, Nov. 20 /CNW/ - Copper Mesa Mining Corporation ("Copper Mesa" or the "Company") (TSX:C...
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[{"type":"text","content":"\n\n\n\nVANCOUVER, Nov. 20 /CNW/ - Copper Mesa Mining Corporation ("Copper Mesa"\nor the "Company") (TSX:CUX) announced that it has received a notice from the\nRegional Director of Mines of Pichincha, Ecuador, that again purports the\nannulment of the Company's Golden 1 and Golden 2 concessions that form part of\nthe Company's Junin project in Ecuador, now on the basis that the Company does\nnot have an Environmental Impact Assessment ("EIA") for drilling.\n\n\nIn January 2008, the Company received a similar notice from this same\nlower office within the Ministry of Mines and Petroleum (the "MMP") contending\nthat the same concessions had been nullified. The Company appealed the January\n2008 nullification to the Constitutional Tribunal of Ecuador, which found in\nfavor of the Company. The National Director of Mines confirmed in September\n2008 that the Golden 1 and Golden 2 concessions were to be reinstated to the\nCompany and instructed the applicable government agencies to take all\nnecessary steps to put that reinstatement order into effect.\n\n\n"To our knowledge, the Company is in compliance with applicable laws in\nEcuador, particularly those regarding the development and approval of an EIA\nfor drilling on the Junin project," said Gary E. Davis, President and CEO of\nCopper Mesa. "Although we cannot provide assurance that the Company will again\nprevail in its challenge to this most recent action, as was the case when the\nconcessions were purportedly annulled earlier this year, we do not believe\nthere is any legal basis for this latest action."\n\n\nThe Company submitted an EIA for the Junin project to the MMP in\nSeptember 2006. As part of its review process, the MMP subsequently asked the\nCompany to provide further clarification on certain items. The items were in\nthe process of being addressed when the government issued an administrative\ndecree in April 2008 mandating that no mining activities be conducted by any\ncompany until such time as a new Mining Law is approved by Ecuador's\nlegislature. The new Mining Law is expected to be approved within the next few\nweeks.\n\n\nMr. Davis further stated "We treat all of the Company's dealings with\ngovernmental authorities seriously. We will vigorously defend the Company's\nrights and will take appropriat...