Vancouver’s Curis Resources (TSX:CUV) has withdrawn a request to rezone a portion of its mineral property in Arizona to develop a copper mine, but the company said the project is proceeding as planned.
“A significant number of the permits required for the development and operation of Florence Copper are already in place,” commented Mike McPhie, president and CEO of the junior company.
McPhie said the company’s decision to withdraw requests to amend the Town of Florence General Plan to coincide with the development of the Florence copper project is related to the U.S. environmental permitting process.
The company said it would focus its near-term effort instead on finalizing environmental permit amendments.
Florence is an in-situ copper project that contains a 429 million ton copper oxide resource.
The Florence project would be one of the world’s first standalone in-situ recovery copper mines.
In-situ recovery requires a solution that’s pumped into the ground via a well that dissolves the mineral and then pumps it back to the surface.
The technology is common to uranium mining and oilsands projects, and for Curis means little visual disturbance above ground.
Earlier this month, the company said it needed to amend the town plan to allow for natural resource extraction within the town limits.
At the time, McPhie said the company had “concerns about procedural issues” within the town’s planning and zoning commission.
Still, Curis said it remains dedicated to the project.
“Our sincere desire is to build a constructive and meaningful working relationship with the town and our neighbours this year, next year and in the many years to come,” said McPhie.
“In withdrawing our applications, our hope is that we can have an open and meaningful dialogue with the town after receipt of our amended environmental permits and work to address any concerns that council and town staff may have in the weeks and months ahead.”
At press time, Curis’ shares were down $0.04 to $1.40.
Joel McKay
@jmckaybiv