Reuters: Market News: UPDATE 1-Augusta gets key green permit for Arizona project

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UPDATE 1-Augusta gets key green permit for Arizona project Apr 10th 2012, 11:43 April 10 | Tue Apr 10, 2012 7:43am EDT April 10 (Reuters) - Augusta Resource Corp said it received a key environment permit for its fully owned Rosemont copper project in Arizona. The Aquifer protection permit ensures protection of ground water and is effective for the life of the mine, the company said in a statement. Rosemont, which has reserves of about 5.2 billion pounds of copper and 161 million pounds of molybdenum, would account for about 10 percent of U.S. copper output once in production in 2014, the company said. The project, with a mine life of more than 21 years, has so far received six major permits required to start construction. Rosemont's average annual production is expected to be about 220 million pounds of copper and 4.7 million pounds of molybdenum over its mine life, according to the company's website. Shares of Augusta closed at C$2.31 on Monday on the Toronto Stock Exchange.

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