https://ceo.ca/@nasdaq/emerita…d-drill-program-at-iberia
Andalucia Region Targeted for Strategic Mining Investment by European Union
There have been two important developments with respect to the mining industry in the Andalucia Region, Spain, where the Company’s projects are located, during the past week.
- The Junta of the Andalucia Region passed a law designating underground mining as a strategically important industry in the region that will be permitted in all areas of the region . Mining development will have priority as an economic activity.
- The European Union has passed an initiative as part of its plan to rebuild the economy post the COVID 19 pandemic whereby the Iberian Belt which is located primarily in Andalucia and extends westward to Portugal will receive a strategic investment of €3.10 billion for mine development and related activities. The Ministry of Economic Transformation, Industry, Knowledge and Universities has promoted the project for the metal mining and metallurgy sectors in Andalusia to apply for funds from the “Next Generation of the European Union” (funds established for economic rebuilding of the EU post the pandemic).The strong mining industry and recognized geological potential hosted in the Iberian Pyrite Belt, within the provinces of Seville and Huelva will be the focus of the program. David Gower, P.Geo., CEO of Emerita, stated, “These initiatives are important and send a strong message with respect to the importance of mining to the Andalucía region and the contribution the region can make in terms of providing domestic European supply of strategic minerals. Emerita has long recognized the advantages of mining investments in this area. The geological potential is well established by a mining history that dates back to at least the Roman times and continues to have production from modern, leading edge operations. The geological potential is well established by a mining history that dates back to at least the Roman times and continues to have production from modern, leading edge operations. The area has significant advantages due to exceptional infrastructure, highly educated and productive professionals, access to post secondary institutions and well established mining and permitting regulations. These competitive advantages will be further enhanced by these recent announcements. Emerita is investigating how this just announced program may apply to its projects.”
