General Moly receives final permit for Mt. Hope molybdenum project in Nevada
General Moly announced that it has received the final federal permit in the form of a Record of Decision from the Bureau of Land Management for the Mt. Hope Project on September 27, 2019. The Mt. Hope Project has now received all permits from the State of Nevada and the federal government to allow construction and operation of the proposed molybdenum mine. Receipt of the ROD marks completion of the National Environmental Policy Act process and approval of the Supplemental Environmental Impact Statement by the Bureau of Land Management and the U.S. Department of Interior for the Mt. Hope Project. General Moly owns an 80% interest in the world-class Mt. Hope molybdenum project in Nevada through the Eureka Moly LLC joint venture. POS-Minerals Corporation, a wholly owned subsidiary of POSCO, the Korean steel company, owns the remaining 20% interest. Engineering remains approximately 65% complete at the Mt. Hope moly project. Some preconstruction site work also was previously completed. A development decision to proceed with construction of the Mt. Hope Project requires approval from POS-M and the company's Board of Directors, following receipt of project financing.