NEW YORK General Moly Inc. has received the final permit for its Mount Hope molybdenum project in Nevada.
"We are pleased to receive the water pollution control permit from the Nevada Division of Environmental Protection and conclude the permitting process required for the construction of the Mount Hope project," chief executive officer Bruce D. Hansen said in a statement.
The Lakewood, Colo.-based company will now "pivot aggressively to finalizing our project financing and initiating the construction and development" of the project, he added.
The permit demonstrates that Mount Hope will meet Nevada regulations regarding design criteria for containment of process fluids, approves the operational and closure plans for the mine and establishes monitoring requirements, it said.
The mine is expected to produce 40 million pounds of molybdenum annually.