Resolution Copper Completes Land Exchange With USFS

These activities will take place in parallel with ongoing collaboration with local communities and Native American Tribes as well as state-level permitting.

SEATTLE (Scrap Monster):  The U.S. Forest Service (USFS) and Resolution Copper have completed a Federal land exchange required to unlock the full potential of the project. The completion follows a March 13 decision in the U.S. Court of Appeals for the Ninth Circuit which ruled in favor of Resolution Copper and the federal government, denying the plaintiffs’ requests to stop the exchange.

“We are grateful to President Trump and his Administration for making our project a Fast-41 priority and to the U.S. Forest Service, the Department of the Interior, the Department of Agriculture, the Bureau of Land Management (BLM), and the U.S. Congress for completing the land exchange that makes this milestone possible,” said Vicky Peacey, president and general manager for Resolution Copper. “Their leadership has paved the way for one of the most significant private investments in rural Arizona’s history and unlocked the second-largest undeveloped copper deposit in the world.”

Legislation to facilitate the land exchange passed with bipartisan support in December 2014. The land exchange involves the transfer of more than 5,400 acres of environmentally and culturally sensitive land containing special status species and Native American cultural sites for inclusion in National Forests and National Conservation Areas to the USFS and BLM, and in return Resolution has received more than 2,400 acres of land adjacent to the historic Magma Copper mine.

Resolution Copper also announces additional preliminary spending of approximately $500 million over the next two years to support enabling works, including surface drilling to collect additional resource information, closeout and mitigation costs associated with the land exchange, and funding to support Native American and local communities. The funds will also deliver upgrades to existing project infrastructure and initial underground development activities as well as approximately 100 new jobs. These activities will take place in parallel with ongoing collaboration with local communities and Native American Tribes as well as state-level permitting.

 Courtesy: www.e-mj.com

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