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The Canadian Press - ONLINE EDITION

Efforts to revive mothballed northern B.C. molybdenum mine move forward

By: The Canadian Press

Posted: 03/4/2013 10:55 AM | Comments: 0

VANCOUVER - A proposed molybdenum mine in northwestern British Columbia could have its Environmental Assessment Certificate by mid-April.

Vancouver-based Avanti Mining Inc. (TSXV:AVT) says the B.C. Environmental Assessment Office has referred the Kitsault mine project to Environment Minister Terry Lake and Mines, Energy and Natural Gas Minister Rich Coleman.

The two ministers now have 45 days to either issue or withhold an environmental assessment certificate or order further investigation.

In addition, Avanti says it has been told that the project has satisfied effluent regulations, because the Department of Fisheries and Oceans has new information showing tailing ponds won't utilize fish-bearing waters.

Avanti Mining president and CEO Craig Nelsen says the latest developments are a milestone for the resurrection of the mothballed molybdenum mine, 140 kilometres north of Prince Rupert.

Low molybdenum prices forced shutdown of the Kitsault mine in 1982 and Avanti bought it in 2008, estimating the property still contains 232 million tonnes of the ore and could employ 350 people over a 16-year lifespan.

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