Integrity Openness Progress - Euromines

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Integrity Openness Progress - Euromines

Integrity Openness Progress

Rio Tinto Mine Re-opening: Social and Economic

Impacts on Regional Economy and Local Communities

www.emed-tartessus.com


Integrity Openness Progress

EMED Mining Portfolio

Slovakia

Gold

Portugal

Tungsten

Spain

Copper

Cyprus

Copper

24% of KEFI

Minerals

Turkey &

Saudi Arabia

A REGION WITH GROWTH POTENTIAL

Established 2005: Positioned in targeted mining districts 2


Integrity Openness Progress

Emerging Copper & Gold Producer

3


Integrity Openness Progress

Iberian Pyrite Belt & Proyecto Rio Tinto

Rio Tinto

www.emed-tartessus.com

4


Integrity Openness Progress

Introduction to Proyecto Rio Tinto

• Solid project supported by specialist shareholders

• EMED is 100% owner of PRT

• 14 years project, plus expansion

• 123Mt Reserves & 205Mt Resources JORC @ 0.5%Cu

• Processing Plant in good shape: 9Mtpa capacity

• 465 direct jobs

www.emed-tartessus.com

5


Integrity Openness Progress

Rio Tinto Mining Facilities & Process

• Infrastructure intact

on care & maintenance

• Quick production restart

in 6 months of permits

• Contribution to Spain’s GDP

> €1 billion in first 10 years

www.emed-mining.com 6


Integrity Openness Progress

Intact Processing Facilities

FLOTATION CELLS

GRINDING CIRCUIT

www.emed-tartessus.com

7


Integrity Openness Progress

Tailings dam

www.emed-tartessus.com

8


Integrity Openness Progress

Rio Tinto Mine: Largest Deposit in Spain

Deposit

Rio Tinto

Mine

Measured &

Indicated

Resources

(Mt)

Project Life

on Resources

(years)

Personnel for

Production

Owner

205 25 465 EMED (Europe)

Las Cruces 18 15 336 INMET (Canada)

Aguas

Tenidas

22 13 ~300 Trafigura (Via

PGM Canada)

Agua Blanca 20 5 169 LUNDIN (Canada)

www.emed-mining.com

9


Integrity Openness Progress

Current Mining Projects in Iberian Pyrite Belt

250

200

150

100

50

Measured & Indicated

Resources

30

25

20

15

10

5

0

Project Life Based on Resources in

years

0

Rio Tinto

Mine

Las

Cruces

Aguas

Tenidas

Aguas

Blancas

10


Integrity Openness Progress

Andalucía: Unemployment

Unemployment 4 th Qtr 10 Men Women Total

Andalucía 26,82% 30,34% 28,35%

Cuenca Minera 52%

www.emed-mining.com

11


Integrity Openness Progress

Impacts on Employment

• EMED will be the 1 st employer in the region

• More than 450 direct and 1,200 indirect jobs

• Training Schemes will commence after

administrative standing achieved for EMED´s mineral

rights

• Social Bond: at least €6M

• Monthly Payroll = >€2M

12


Integrity Openness Progress

Impacts on Regional & National Economy

• €30M already invested / €63M till start up

• Project development: €105M

• EMED Tartessus operations will generate 3 € locally

for every € spent

• First 10 years of activity will provide:

Total expenditure = ~ €900M

Taxes paid= Some € 217M (€90M + €103M VAT +

€24M Social Security)

PRT contribution to regional GDP (Huelva) =

€1.331M

13


Integrity Openness Progress

The importance of Riotinto Mine for Copper production

Spain consumes 250.000 t copper in cathodes

• PRT is 14% of Spanish demand

• Andalucía would provide 100% of Spanish copper production


Integrity Openness Progress

Impacts on Community and Development

• PRT re-opening will mainly impact Cuenca Minera

development

• Will give priority to local employment applicants and

contractors within it´s operative budget of €8M/year

• Will give not-operational industrial land to community

• Will facilitate for business that will overcome end of mine

life, like ALS Laboratories

• Will initiate microcredit/seed capital program for local

business

15


Integrity Openness Progress

Impacts on Community and Development

• Will allow access to heritage sites for tourism industry

development

• Has launched a cultural alliance between Rio Tinto, Broken

Hill (Australia) and Banska Stiavnica (Slovakia)

• Part of added value will stay in the region, as concentrate

will be partly processed in Atlantic Copper Smelter in

Huelva

• Will activate other local industries: reagents, lime, spares,

drilling contractors, services, maintenance, etc

16


Integrity Openness Progress

Impacts on Community and Development

• Will convert the area into a central point of its international

activities

• Will establish, in collaboration with local Universities, a

focal point of excellence in training for mining and

environmental management

17


Integrity Openness Progress

Heritage and Tourism Industry

Corta Atalaya Historical Open Pit: 80,000 visitors/pa

18


Integrity Openness Progress

Partnership with Local Communities

Corta Atalaya Historical Open Pit: 80,000 visitors/pa

19


Integrity Openness Progress

Cultural Exchange

20

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