Montanore Silver-Copper Project Permit Submitted
January 4, 2005
Mines Management Inc. announced it has formally submitted its application for re-permitting and development of the Company's Montanore Silver-Copper project in western Montana, according to a news release from the company on January 4th. The application's 13 volumes were delivered to the U.S. Forest Service in Libby, and the Montana Department of Environmental Quality in Helena, Montana.
The application is largely an amendment of that submitted by the previous operator and approved in 1993, and includes updates as well as new data developed subsequently.
Following a brief period of review and comment by the permitting agencies, the process for re-permitting the Montanore Project will follow a multiple-step process including:
a) Public scoping presentation and comment period.
b) National Environmental Policy Act (NEPA) and Montana Environmental Policy Act (MEPA) process.
c) Issuance of a Draft Environmental Impact Statement (DEIS),
d) Public comment period.
e) Issuance of Final Environmental Impact Statement (FEIS) and Record of Decision (ROD).
The Company's President and Chief Executive Officer, Glenn M. Dobbs, said of the application, "We have worked diligently to prepare an application that addresses all issues related to development and operation of Montanore. We believe our plan will result in building and operation of a mine that will become the standard by which underground mining will be conducted well into the 21st century. The Company has been gratified with the reception we have received from the local community and its encouragement to re-permit Montanore."
The Montanore was fully permitted as recently as spring, 2002, at which time the previous owner, Noranda Minerals made the decision to withdraw from its operations in the United States.
Submission of the application formally initiates the re-permitting process, which has been estimated to be completed within a period of approximately 15-20 months.
The Montanore Silver-Copper Project is a world-class mining project expected to bring significant employment and resources to the community of Libby, Lincoln County, and the state of Montana. If in production today, the mine would employ more than 200 people with an average annual payroll of more than $10 million in addition to the ancillary benefits of added capital purchases and supplies exceeding $200 million, and would have a positive impact on a local community with high unemployment.
Further information about Mines Management, Inc. can be reviewed on the website for the Securities and Exchange Commission at www.sec.gov or on the company's website at www.minesmanagement.com.