VANCOUVER, British Columbia, Dec. 15, 2017 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSX-V:AME) announces that the British Columbia Minister of Environment and Climate Change Strategy and Minister of Energy, Mines and Petroleum Resources have declined the issuance of an Environmental Assessment Certificate (EA Certificate) for the Ajax copper-gold project near Kamloops, B.C. Ajax is an advanced stage copper-gold project owned by KGHM Ajax Mining Inc. (KGHM Ajax), a joint venture company owned by Abacus (20%) and KGHM Polska Miedz S.A. (80%). The Project has been the subject of a joint coordinated review process involving the provincial BC Environmental Assessment Office (BCEAO) and the federal Canadian Environmental Assessment Agency (CEAA).
The Federal Minister of Environment and Climate Change Canada announced that the Project ‘is likely to cause significant adverse environmental effects and cumulative effects to Indigenous heritage and the current use of lands and resources for traditional purposes by Indigenous peoples.’ The Minister has referred the Project back to the responsible authorities, Fisheries and Oceans Canada and Natural Resources Canada. The responsible authorities must now seek a final decision from Cabinet on whether the Project can proceed.
The decisions follow a six-year environmental assessment review process that was formally initiated in February 2011, involving extensive engagement with provincial and federal government agencies, technical working and community advisory groups, First Nations and a broad array of stakeholder interest groups including thousands of community members who took part.
“While we are naturally disheartened by the provincial Ministers’ decisions to reject the Ajax Project in view of the highest standards that were consistently met for public consultation and stakeholder engagement, we continue to maintain that the Project is technically sound, viable and economically beneficial for the Kamloops community, First Nations and for the Province of BC and Canada.
I sincerely wish to recognize the efforts of each and every person who participated in the environmental assessment process, the numerous open houses, public comment periods culminating in more than 4,000 public comments, for their substantial contributions and input throughout the last six years. To our staff and consultants, and particularly our Community Relations team led by Yves Lacasse and Chris Wild, no greater effort to engage and align the values and interests of a community could have been better achieved. I applaud your dedication!”
— Michael McInnis, Executive Chairman of Abacus
KGHM Ajax, following the review of the reasons for the provincial decision, will consider the next steps, which may include judicial review.
About Abacus
Abacus is a mineral exploration and mine development company with a 20% interest in the Ajax Project located at the historic Ajax-Afton site southwest of Kamloops, B.C., and an option to acquire up to a 75% undivided interest in the Willow porphyry copper-gold property located in Nevada. The Ajax Project is a proposed copper-gold open-pit mine that has undergone a joint coordinated provincial and federal assessment review. Through KGHM Ajax Mining Inc., a joint venture company between Abacus (20%) and KGHM Polska Miedz S.A. (KGHM) (80%), the Ajax Mine is being funded in large part by KGHM and operated by its wholly-owned subsidiary, KGHM International Ltd. For the latest reports and information on Abacus’ projects, please refer to the Company’s website at www.amemining.com.
