General Moly, Inc. (the "Company"), a U.S.-based molybdenum mineral development, exploration and mining company, announced that the State of Nevada Division of Environmental Protection (NDEP) has issued a Reclamation Permit for the Mt. Hope Project.
Bruce D. Hansen, Chief Executive Officer of General Moly, said, "We are pleased to receive the Reclamation Permit from the Nevada Division of Environmental Protection, which along with the Record of Decision issued by the U.S. Bureau of Land Management on November 16, represent two important milestones for the permitting process at Mt. Hope. NDEP continues to make progress finalizing the Water Pollution Control Permit, the last major operating permit for the Mt. Hope Project.”
NDEP published a Notice of Proposed Action on October 1, 2012 stating their tentative decision to issue a Reclamation Permit for the Mt. Hope Project. Following the 30-day public review and comment period, the hearing for the permit took place on October 30, 2012.
The Reclamation Permit authorizes surface disturbance and construction of facilities. The permit was issued on the basis of a site specific application detailing the reclamation methods to be used to return the land to safe and stable conditions and a productive post-mining land use. The Reclamation Permit also approved the reclamation cost estimate of approximately $73 million and established bonding requirements based on this estimate.
General Moly is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE MKT (formerly the NYSE AMEX) and the Toronto Stock Exchange under the symbol GMO. Our primary asset, our interest in the Mt. Hope project located in central Nevada, is considered one of the world's largest and highest grade molybdenum deposits. Combined with our second molybdenum property, the Liberty project that is also located in central Nevada, our goal is to become the largest pure play primary molybdenum producer in the world.