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Update on the Environmental clearance for Tschudi

26th Apr 2013 07:00

RNS Number : 2892D
Weatherly International PLC
26 April 2013
 

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

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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