www.emed-mining.com
The principal activity of EMED Mining is to explore for and develop natural resources, with a focus on copper and gold. The Company's region of interest spans from Europe to Middle East which includes many past centres of mining and under-explored potential for many styles of mineralisation such as volcanogenic-hosted massive sulphide copper-gold, epithermal gold and porphyry copper-gold.
In-Depth EMED Mining Articles
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05/03/2012
EMED Mining shares advance on US$175 mln Goldman Sachs deal
Goldman is lending EMED the project financing money and it will be repaid in copper following the restart of the Rio Tinto mine in Andalucía, Spain.
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05/03/2012
EMED Mining agrees US$175 mln project funding deal with Goldman Sachs
EMED Mining has agreed a deal with banking heavyweight Goldman Sachs in relation to a US$175 million financing package for the development of the Rio Tinto copper mine
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06/02/2012
EMED Mining shares advance as Chinese back Rio Tinto copper mine restart
A new Chinese offtake partner has bought a 10 per cent stake in the company and will provide up to US$30 million to help fund the mine restart project.
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22/11/2011
EMED Mining is redeveloping one of the world’s greatest copper mines, says Fairfax
There is now light at the end of the tunnel for EMED Mining as it prepares to restart the development of the Rio Tinto copper mine in the Andalucía region of Spain, according to Fairfax Securities.
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29/06/2011
EMED Mining nears end-game in Andalucia
Once fully operational the Rio Tinto mine is expected to produce around 37,000 tonnes of copper concentrate from 9 million tonnes of ore each year.
Related Media
Archive-
22/02/2012
Stocktube video - Harry Anagnostaras-Adams, MD of EMED Mining, talks about the largest privately owned copper group in China
Harry Anagnostaras-Adams, MD of EMED Mining, talks about the largest privately owned copper group in China, offtake agreement, US$30 million for a 10% stake & rights to 25% of existing reserves, 18 month ramp up, 40,000 tonnes of copper in concentrate generating about US$200 million a year EBITDA -
03/06/2011
Stocktube video - EMED Mining’s Harry Anagnostaras-Adams tells Proactive he is confident Rio Tinto mine will be a copper producer once again
EMED Mining is poised to begin re-start operations at the Rio Tinto copper mine in Andalucía. After a few years of hard work it has now restored local confidence in the both the project and mining in general. Managing director Harry Anagnostaras–Adams tells Proactive Investors of his excitement about this fantastic opportunity to restart the historic mine and make the most of a global copper shortage. -
15/02/2011
Stocktube video - Harry Anagnostaras--Adams,Managing Director of EMED Mining, talks to Proactive Investors
Harry Anagnostaras--Adams, Managing Director of EMED Mining, talks about listing on the TSX, a fully developed copper mine in Spain, one of the cheapest entries into the copper space, a short timetable to production, doubling copper resources and reserves in the next three years, and a US$1 billion gold resource. -
29/06/2010
EMED Mining One2One Investor Presentation - 29th June 2010 (PDF)
EMED Mining Investor Presentation - 29th June 2010
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Company Statement:
EMED Mining is focused on two key projects in Spain and Slovakia which hold the most potential to add major value.
The Rio Tinto Copper Mine and associated processing infrastructure in Spain continues to be an exceptional opportunity for EMED Mining to produce copper at a relatively low acquisition and start-up cost. The legal structure for the mine ownership has been clarified and EMED Mining now owns 100% of the Rio Tinto Mine.
At the 100%-owned Detva Gold Project in Slovakia, the preliminary economics of the Biely Vrch Scoping Study are very encouraging and the project is being systematically progressed towards development into a 60,000 ounces per annum gold mine. EMED Mining is also actively exploring for gold within the Company's large licence area in central Slovakia.
EMED Mining also owns 20% of AIM-listed KEFI Minerals Plc, which is primarily exploring for gold and copper in Turkey and Saudi Arabia.
Regional Strategy
The Group's region of interest is the Mesozoic to Tertiary age tectonic belt that winds from Europe to the Middle East, extending for over 3,000 kilometres. EMED Mining's strategy is to rapidly evaluate exploration opportunities in several jurisdictions throughout this quality mineral belt with a relatively high rate of project turnover.
EMED Mining is based in Cyprus and has a strong commitment to responsible development of metal production operations in Europe, with an initial focus on copper and gold. EMED Mining was formed by Australian mining-industry specialists and is based in Cyprus, the site of its first project and a location geographically central to the Company’s area of interest.
The team now includes specialists from the Americas, Cyprus, Slovakia and Spain with most of our personnel now based in Spain.
Our regional strategy has not changed since EMED Mining listed on AIM in May 2005 and the key components of this strategy are to:
* focus on demonstrably well-endowed areas and apply modern exploration techniques;
* use relationships in the region to provide a high level of technical, political and other expertise;
* demonstrate a commitment to the region by being headquartered in Cyprus and establishing offices near the geographic centre of each prospect; and
* integrate the practical experience gained in the world’s leading metal-producing countries with local expertise in each country where EMED Mining is active.
This strategy has been successfully implemented to date with the Company now enjoying first-mover advantage in the region. We have established a position of prominence for the industry in Spain, Slovakia and Cyprus.
Our core projects in Spain and Slovakia have such strong potential to add major value to the Company that new projects have not been added to the portfolio since 2007. However, we continue to monitor the Eurasian region for complementary opportunities with a view to selectively expanding the portfolio, if warranted. As new opportunities are identified, we assess the commercial and sovereign risks before investing further time and money.
Current Operations:
- Cyprus exploration areas are centred on the Troodos ophiolite complex. The targeted mineralisation style is volcanic-hosted massive sulphide copper deposits under shallow cover rocks, similar to the larger past Cyprus copper mines - three of which exceeded 10 million tonnes of ore running at grades between 1% and 4.5%.
- KEFI Minerals Plc was admitted to AIM in December 2006 and is 19%-owned by EMED Mining. KEFI Minerals owns carefully selected licence areas in Turkey and Saudi Arabia, as well as an extensive proprietary database of regional and specific exploration data providing a pipeline of further projects to evaluate. Visit www.kefi-minerals.com for further information.
- A positive Scoping Study has been completed for developing the Biely Vrch Prospect in Slovakia into a gold mine producing 60,000 ounces per annum, with permitting and further studies being systematically progressed. EMED Mining is also actively exploring other prospects within the Company's large 100%-owned licence areas in the Central Slovakian Volcanic Field.
- EMED Mining continues to progress towards becoming a significant copper producer at the historic Rio Tinto Copper Mine in Spain - an exceptional opportunity to produce copper at a relatively low acquisition and start-up cost.
- Expansion of resources through successful exploration.
- Diamond core drilling to verify and upgrade categorisation of known resources, as well as collecting samples for further metallurgical testwork.
- Further assessment of the refurbishment of the nearby Mitsero processing plant, as well as preparation of a metallurgical plan for the resources and a processing strategy.
- Collection and collation of firm cost estimates.
- Potential remains to increase known mineralisation by infill drilling and step-out drilling. Some of the deposits are likely to have faulted extensions and may have repeats along strike within areas containing geophysical anomalies.
- it is recognised that, although mineralisation occurs throughout both the Upper Pillow Lavas and the Lower Pillow Lavas (being the upper and lower units of what is known as the extrusive sequence of basalt pillow lavas), more than 90 per cent of the copper mined in the Troodos Complex has come from deposits within the Upper Pillow Lavas
- by focusing on areas of shallowly dipping Upper Pillow Lavas, especially where it dips under the sedimentary cover, the Group intends to access opportunities which have been under-explored by past explorers; and
- the ability to use new techniques in reprocessing and modelling of the extensive historic geological and geophysical data in order to identify priority targets.
- are low-grade (0.7g/t to 1.8g/t gold), multi-million ounce deposits
- are large (>100 million tonnes), bulk-mineable deposits
- are metallurgically simple and gold is recoverable via conventional heap leaching
- occur in clusters of several similar deposits
- contain very minor amounts of copper and molybdenum.
- Production of approximately 37,000 tonnes of copper-in-concentrate based on processing 9.0 million tonnes of ore per annum
- An average waste-to-ore ratio for the life of mine of approximately 1.1 to 1.0
- Total costs of approximately US$1.57/lb including all operating, capital and acquisition costs
- Employment of approximately 400 to 450 employees and contractors at full production
- Potential to extend the 14 year mine life through conversion of more resources to reserves.
- Approval by the Junta de Andalucia of the transfer of mineral rights to EMED Tartessus; and
- Approval of the restart, operating and rehabilitation plans all of which are based on long-standing and previously approved practices at Rio Tinto Mine that are being updated as appropriate.
- The estimated average annual operating cash flows at a copper price of US$3.00/lb are forecast to be greater than the capital expenditure required to restart the operation.
Management
Major Shareholders
As at 21 June 2011, EMED Mining had:
- 708.4 million shares on issue and does not hold any shares in treasury;
- 145.5 million shares to be potentially issued under $8.5 million Convertible Loan facility provided by Resource Capital Funds and RMB Australia. This reflects the assumptions that the full amount is converted at the fixed conversion price of 4.13p into 145.5 million shares; and
- 81.8 million options and warrants on issue, with various exercise prices ranging from 4.1p to 22p and expiry dates ranging from 27 July 2011 to 3 May 2015.
- A total of 935.6 million shares fully-diluted in accordance with the foregoing assumptions.
Other than under corporate law, there are no restrictions on the transfer of any securities.
As at 21 June 2011, the significant shareholders in the Company are:
- Resource Capital Funds 7% (fully-diluted 18%)
- RBC Asset Management 15% (fully-diluted 11%)
- RMB Holdings 5% (fully-diluted 7%)
- MRI Group 4% (fully-diluted 4%)
- OZ Minerals 4% (fully-diluted 3%)
- Standard Life 4% (fully-diluted 3%)
- Management and Board of Directors 4% (fully-diluted 10%)
The percentage shareholding shown above for management and the Board of Directors represents the percentage of shares not in public hands.
Updated from company website 25.10.11
Contact Information
Registered Office:
1, Lambousa Street, Nicosia 1095, Cyprus.
Cyprus Office:
3, Ayiou Demetriou Street, Acropolis 2012, Nicosia, Cyprus
Telephone: +357 2244 2705 Fax: +357 2242 1956
Slovakia Office:
Andreja Kmeta 8, Banska Stiavnica 969 01 , Slovakia
Telephone: 421 45 679 0775
Spain Office:
La Dehesa s/n, Minas de Riotinto, 21660 Huelva, Spain
Telephone: +34 959 59 28 50
If you have a general query regarding EMED Mining, send an email to info@emed-mining.com
If you wish to be advised by email of news regarding EMED Mining, simply send an email to list@emed-mining.com with 'Subscribe to Email List' in the subject line.
Corporate Information
Computershare Investor Services - Share Registrar, Depositary and Transfer Agent
RFC Corporate Finance - Nominated Adviser for EMED Mining
Fox-Davies Capital - Joint Broker for EMED Mining
Fairfax - Joint Broker for EMED Mining
Bishopsgate Communications - Public Relations adviser
