Fortuna working on appeal for San Jose mine's denied EIA extension application
Canadian precious metals mining company Fortuna Silver Mines says its Mexican subsidiary Companía Minera Cuzcatlán is working with its legal advisers to file an appeal to the denial order received from the Secretaría de Medio Ambiente y Recursos Naturales, with respect to an application to extend the environmental-impact authorisation (EIA) at the San Jose mine, prior to the end of November.
The appeal will be brought by Minera Cuzcatlan in the Mexican courts.
The grounds for the appeal are that Minera Cuzcatlan is in full compliance with all material environmental laws and, therefore, has the right to an extension of the EIA under applicable law, Fortuna states.
The timing for a decision by the administrative court is uncertain, and Fortuna has been advised that such decisions may often take up to a year to be delivered.
The San Jose mine is currently operating under the protection of the Mexican courts, which allows the continued operation of the San Jose mine beyond the expiry date of the EIA.
Under the terms of the company’s credit facility, it is required to obtain a permanent injunction or equivalent protection, in form and substance acceptable to the lenders acting reasonably, by November 20, to allow the company to continue operating the mine.
The lenders under the credit facility have agreed to waive that requirement until February 18, 2022, provided such permanent injunction or equivalent protection has not been lifted or stayed prior thereto.
Fortuna says it believes it is fundamentally in compliance with all material aspects of the EIA and is entitled to an extension.
It adds that it is continuing to work with authorities to resolve this matter. Also, Minera Cuzcatlan is continuing to pursue all legal protection available to it to continue to operate pending the appeal of the denial order.
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