26th Apr 2013 07:00
Weatherly International Plc
Update on the Environmental clearance for Tschudi
Weatherly International Plc ("Weatherly" or "the Company" AIM:WTI) is pleased to announce the granting of the required environmental clearance for its Tschudi project.
Tschudi Copper Project
The Ministry for Environment and Tourism has reviewed the environmental amendments submitted by Weatherly in February and an external consultant, in conjunction with the Ministry, completed the required review. The full environmental clearance requested has now been granted by the Ministry of Tourism and Environment.
Rod Webster CEO of Weatherly commented:
"Weatherly is making significant progress towards becoming a mid-tier copper producing company and the Tschudi environmental clearance is another important milestone. I would like to commend the Ministry of Tourism and the Environment for the prompt and efficient way in which the submission has been processed which demonstrates the importance of the project to Namibia.
About Weatherly
Weatherly is an AIM listed, copper focused mining company, the principal assets of which are located in Namibia. It currently has two producing copper mines (Otjihase and Matchless), and has recently completed a bankable feasibility study over the Tschudi Copper Project. These assets will enable Weatherly to achieve its medium term strategy of establishing a copper mining business capable of sustaining approximately 25,000tpa of copper at an average industry cost of production.
The Company also has a 25% stake in an AIM listed company, China Africa Resources Plc (CAF), which is currently focused on the development of the lead/zinc project at Berg Aukas in Northern Namibia.
For further information please contact:
Weatherly International Plc +44 (0) 20 7917 2989
Rod Webster, Chief Executive Officer
Canaccord Genuity Limited +44 (0) 20 7523 8000
Andrew Chubb / Andrei Kroupnik
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