NEW YORK The U.S. Bureau
of Land Management has issued a record of decision authorizing
development of General Moly Inc.s Mount Hope molybdenum
"This is the culmination of six
years of hard work and dedicated effort from our team and the
(Bureau of Land Management), with significant input from all
the cooperating and commenting agencies and the general
public," General Moly chief executive officer Bruce Hansen said
in a statement.
Following the Nevada Division of
Environmental Protections "relatively expeditious"
issuance of the projects water pollution control permit
and reclamation permit, the Lakewood, Colo.-based company will
initiate financing and construction of the
40-million-pound-per-year mine, General Moly said.
The company could offer no
estimate on when outstanding permits would be received, as
"they are completely in control (of) the agency, who will
eventually issue them," a company spokesman told
Permitting for the project,
which was put on hold in 2009 due to low molybdenum prices and
tightening lending standards, was initially expected to be
completed as early as year-end (
amm.com, March 27, 2009).