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The Company completed the first step of the permitting process when it filed its comprehensive Plan of Operations with the US Forest Service in July 2007. Using this plan as a basis for permitting, Augusta is now moving through the National Environmental Policy Act ("NEPA”) permitting process, whereby the US Forest Service is drafting an Environmental Impact Statement ("EIS”) and conducting a public review process.
The US Forest Service is the official agency in charge of leading the process of reviewing potential project impacts and identifying relevant mitigation plans resulting from the Plan of Operations. As such, the US Forest Service is responsible for issuing the final EIS and "Record of Decision” after pubic review and comment. These documents and findings are then considered by other federal and state agencies as they review the permits required to initiate mineral development on the property.
It normally takes anywhere from 12 to 18 months to complete the draft EIS and the initial public review process. Another three to six months are typically required to respond to public comments and prepare the final EIS, after which the US Forest Service will issue a "Record of Decision” either approving the plan or providing recommendations for modifications to the plan. Subsequent to the "Record of Decision”, the Company will file a final Plan of Operations (incorporating any necessary modifications). It is then that permits would be issued allowing the Company to commence construction. Upon completion of this process, Augusta expects to receive approval to construct the mine in 2010 and begin construction in 2011.
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