Nevada Copper Corp. (TSX:NCU) reported that the Lyon County Economic Development and Conservation Act has not yet been passed due to the more pressing matters acted upon by the 112th Congress such as the fiscal cliff bill as well as a number of lands-related bills, a Hurricane Sandy relief bill and a major farm bill.
As quoted in the press release:
With a bipartisan compromise reached on a revised bill that includes the economic component near Yerington and a wilderness component in a portion of the South Pine Grove Hills area, both Senator Reid and Senator Heller have said the bill’s passage is a top priority in 2013. That compromise was obtained after months of intense effort by local stakeholders and the Congressional delegation. Congressman Amodei (northern Lyon County) and newly-elected Congressman Stephen Horsford (southern Lyon County) have said they would support the compromise and expedited treatment of the Lyon County bill.
Nevada Copper President and CEO Giulio Bonifacio said:
We understand that Senators Reid and Heller support expedited passage of the Lyon County bill in the new 113th Congress in 2013. Nevada Copper will continue to work with them and aggressively support passage of the Lyon County bill this year. Meantime, our Stage 1 underground project is unaffected by the lands bill process and remains on track for receipt of key State permits by early 2013. With the recently-completed feasibility study (see December 13, 2012 news release) now in hand and filed on SEDAR, we have initiated discussions relating to the Stage 1 project financing, and have received strong interest from several lending institutions.