Izok Corridor moves to next step in environment & regulatory review
MELBOURNE, April 10, 2013 /CNW/ - MMG's Izok Corridor zinc development project
in Nunavut, Canada, will proceed to environmental assessment and regulatory
review, following receipt of notice from the Minister of Aboriginal Affairs
and Northern Development Canada (AANDC).
"This is positive news for Izok Corridor and an important part of assessing
the feasibility of the project," said Sahba Safavi, MMG Project Manager. "We
appreciate the efficiency of the review process, the timeliness of the
decision and we look forward to working with the Nunavut Impact Review Board
(NIRB) and community stakeholders to advance the project."
MMG submitted its Project Proposal to the Nunavut Impact Review Board (NIRB)
in September 2012. The proposal set out the preliminary mining and
environmental considerations for the Izok Corridor project based on a 2011
pre-feasibility study. The NIRB considered extensive written materials and
submissions from stakeholders regarding the potential environmental and
socio-economic and environmental effects of the proposed project. The federal
Minister of Aboriginal Affairs and Northern Development Canada has recommended
that the Izok Corridor project can advance to the next stage of the
environmental assessment and regulatory review process.
Following consultation with local stakeholders, MMG staff and consultants,
NIRB will develop draft guidelines for MMG that will assist in the preparation
of an Environmental Impact Statement.
"MMG is committed to responsible and sustainable development and we look
forward to building upon the strong relationships we have created with local
communities," said Mr. Safavi.
About the Izok Corridor project
The Izok Corridor project encompasses zinc-copper deposits located near Izok
Lake and High Lake in Nunavut, Canada. Izok Corridor is expected to provide a
number of economic benefits to Nunavut including the creation of employment,
business opportunities, skills development and the payment of taxes and
MMG initiated a definitive feasibility study in 2012. The definitive
feasibility study is expected to take 18-24 months to complete and represents
an investment of up to US$50 million. The study will evaluate the costs, value
and execution pathway for the proposed project.
About MMG Limited
MMG Limited is a mid-tier global resources company which explores, develops
and mines base metal projects around the world. It is headquartered in
Melbourne, Australia and listed on the Hong Kong Stock Exchange.
The Company owns and operates the Century, Golden Grove and Rosebery mines in
Australia, the Kinsevere mine in the Democratic Republic of Congo (DRC) and
the LXML Sepon mine in Laos.
Its major development projects include Dugald River project in Queensland,
Australia and the Izok Corridor base metals project in Nunavut, Canada. The
Company also has substantial exploration projects and partnerships in
Australia, Africa and the Americas. It is one of the world's largest producers
of zinc and also produces significant amounts of copper, lead, gold and silver.
For further information visit www.mmg.com.
Media enquiries: Canada Ian Hamilton Office: (416) 206-0118 x.222 Mobile:
(905) 399-6591 email@example.com
Australia Kathleen Kawecki Communications Advisor T +61 3 9288 0996 M +61 400
481 868 Ekathleen.firstname.lastname@example.org
Investor enquiries: Colette Campbell Group Manager Investor Relations T +852
2216 9610 (Hong Kong) T +61 3 9288 9165 (Australia) M +61 422 963 652
SOURCE: MMG (Minerals and Metals Group)
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-0- Apr/10/2013 13:00 GMT
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