DENVER, Aug. 6, 2012 /CNW/ - Augusta Resource Corporation (TSX/NYSE MKT: AZC) ("Augusta" or "the Company") is pleased to announce that the Arizona
Department of Environmental Quality ("ADEQ") has asserted complete
jurisdiction over Rosemont Copper's ("Rosemont") Air Quality Permit due
to the confusion and uncertainty caused by the inappropriate denial of
Rosemont's Air Quality Permit application by the Pima County Department
of Environmental Quality. Rosemont has thereby received the draft Air
Quality Permit from the ADEQ.
ADEQ's Air Quality Permit will ensure that Rosemont meets all federal,
state and local requirements by operating with enhanced emissions
controls at the mine site. The public comment period, which commences
today, will be 60 days and will end on October 9, 2012. Soon after the
conclusion of the public comment period, the final Air Quality Permit
will be issued for Rosemont.
"We are happy to see the Air Quality Permit process continue to advance
and have the ADEQ officially issue the draft permit," said
Rod Pace
,
Augusta's Chief Operating Officer. "The ADEQ will give Rosemont
regulatory certainty and specific timeframes that were lacking in the
Pima County permitting process. The ADEQ has handled our application
since the initial submission in November 2011 in a professional and
consistent manner."
ABOUT AUGUSTA
Augusta is a base metals company focused on advancing the Rosemont
Copper deposit near Tucson, Arizona. Rosemont hosts a large
copper/molybdenum reserve that would account for about 10% of US copper
output once in production (for details refer to www.augustaresource.com). The exceptional experience and strength of Augusta's management team,
combined with the developed infrastructure and robust economics of the
Rosemont project, propels Augusta to becoming a solid mid-tier copper
producer. The Company trades on the Toronto Stock Exchange and the NYSE
MKT under the symbol AZC.
CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING INFORMATION
Certain of the statements made and information contained herein may
contain forward-looking statements within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
forward-looking information within the meaning of applicable Canadian
securities laws. Such forward-looking statements and forward-looking
information include, but are not limited to statements concerning:
expectations surrounding future project financings or refinancing; the
Company's plans at the Rosemont Project including timing for final
permits and construction; estimated production; and capital and
operating and cash flow estimates. Forward-looking statements or
information include statements regarding the expectations and beliefs
of management. Often, but not always, forward-looking statements and
forward-looking information can be identified by the use of words such
as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes" or
the negatives thereof or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements or information are subject to a variety of
risks and uncertainties which could cause actual events or results to
differ from those reflected in the forward-looking statements or
information, including, without limitation, risks and uncertainties
relating to: history of losses; requirements for additional capital;
dilution; loss of its material properties; interest rates increase;
global economy; no history of production; speculative nature of
exploration activities; periodic interruptions to exploration,
development and mining activities; environmental hazards and liability;
industrial accidents; failure of processing and mining equipment;
labour disputes; supply problems; commodity price fluctuations;
uncertainty of production and cost estimates; the interpretation of
drill results and the estimation of mineral resources and reserves;
legal and regulatory proceedings and community actions; title matters;
regulatory restrictions; permitting and licensing; volatility of the
market price of Common Shares; insurance; competition; hedging
activities; currency fluctuations; loss of key employees; as well as
those factors discussed in the section entitled "Risk Factors" in the
Company's Annual Information Form dated March 19, 2012. Should one or
more of these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from
those described in forward-looking statements or information.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information. The Company disclaims any
intent or obligation to update forward-looking statements or
information except as required by law, and you are referred to the full
discussion of the Company's business contained in the Company's reports
filed with the securities regulatory authorities in Canada and the
United States.