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Minera IRL Moves Closer To Environmental And Social Approval For Ollachea

Minera IRL (LON:MIRL, TSE: IRL) expects to receive final social and environmental approval for its Ollachea mine in Peru in the second half of 2013.

It comes after the firm completed the final community workshop as part of getting the Ollachea Environmental and Social Impact Assessment (ESIA) and after a 30-year development and operations deal was inked signed with the Ollachea community last year.

The final public audience was held on May 14 and included strong participation from the community, with around 600 people attending.

Minera executive chairman Courtney Chamberlain said: "Once again, we have received outstanding support from the Ollachea community with unanimous endorsement of the ESIA at the final workshop."

Also, the firm said it was progressing project financing negotiations with a view to starting project development in late 2013 - in line with its target of starting to produce gold in 2015.

The Ollachea ESIA has included over three years of technical studies, including a definitive feasibility study, social baseline studies, comprehensive water management plan and numerous public consultations.

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