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Concerns over endangered animals deal blow to Vancouver’s … – Business in Vancouver

Backers of Augusta Resource Corp (TSE:AZC) (NYSE MKT:AZC) in its fight against hostile takeover bidder Hudbay Minerals (TSE:HBM) has suffered another setback.

After the close of trading on May 26 Vancouver-based Augusta announced further complications in the permitting process for its Rosemont Copper Project in Arizona after the US Forest Service formally requested that the US Fish and Wildlife Service (FWS) re-initiate consultation required under the Endangered Species Act.

“Additional information includes the documented evidence of the presence of ocelot within or near the project area and conferencing on the potential listing of species which were not considered in the original biological opinion.  Additional information related to the effects of groundwater drawdown on aquatic and riparian species near the project area will also be included as part of this process,” the statement reads.

Formal consultation and publication of the new biologic opinion by the U.S. FWS could take 135 days to complete once consultation is initiated which scuttles Augusta’s planned timeline on the project.

Gil Clausen, Augusta’s President and CEO called the delay “unfortunate” but added the “(U.S. FWS) has committed to dedicating the appropriate resources to this analysis and to ensure that the work is done expeditiously.”

Read more: http://www.biv.com/article/20140526/BIV0108/140529945/concerns-over-endangered-animals-deal-blow-to-vancouver-8217-s-augusta-mining-firm

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