Mt. Hope Moving Project Towards ROD

 

LAKEWOOD, CO - General Moly, Inc. reported that the Bureau of Land Management (BLM) has published its Notice of Intent ("NOI") to complete a Supplemental Environmental Impact Statement ("Supplemental EIS") for General Moly's majority-owned Mt. Hope Project. The Supplemental EIS will address concerns raised by the December 28, 2016 Opinion of the U.S Court of Appeals for the Ninth Circuit.

The NOI was published in the Federal Register on July 19, 2017. The Company has been working closely with the BLM to resolve the technical matters noted by the Ninth Circuit under the National Environmental Policy Act ("NEPA"). 

Bruce D. Hansen, Chief Executive Officer, said, "We are pleased that the Supplemental EIS process is underway as evidenced by the publication of the NOI. We look forward to receiving the Record of Decision, and anticipate this approval in late 2017, or early 2018. This time frame could align with the continuing gradual recovery of the molybdenum market. Our internal go-ahead decision for construction will require a sustained period of higher molybdenum prices and re-instatement of water permits from the state of Nevada, followed by approval from the Board of Directors."

With the publication of the NOI, the public is informed of the Supplemental EIS's proposed scope to provide updated information regarding certain air quality data and analysis used in the original EIS, and to also provide clarification regarding the existence and status of any Public Water Reserves, which may be potentially impacted by the Mt. Hope Project. The Ninth Circuit affirmed all other aspects of the original EIS.

After a draft of the Supplemental EIS is completed, the BLM will publish a Notice of the Availability (NOA) of the Draft Supplemental EIS in the Federal Register for public review and comment, specific only to the narrow scope of the Supplemental EIS. Thereafter, the BLM will address substantive comments and any additional analysis will then be incorporated into the Final Supplemental EIS.  Once the Final Supplemental EIS is completed the BLM will again publish an NOA in the Federal Register.  Thereafter, it is anticipated that the BLM will reissue a Record of Decision authorizing the construction and operation of the Mt. Hope Project.