COEUR ANNOUNCES U.S. SUPREME COURT AGREES TO REVIEW NINTH CIRCUIT COURT RULING ON KENSINGTON TAILINGS PERMIT
COEUR D'ALENE, Idaho - June 27, 2008 - Coeur d'Alene Mines Corporation (NYSE:CDE, TSX:CDM, ASX:CXC) today announced that the U.S. Supreme Court has granted the State of Alaska and Coeur Alaska's Petitions for a writ of certiorari to review a Ninth Circuit Court of Appeals decision relating to the Kensington 404 tailings permit.
The announcement came after the State of Alaska and Coeur Alaska both filed Petitions for a writ of certiorari with the U.S. Supreme Court in February asking for a review of the Ninth Circuit decision which overturned a lower court decision and invalidated the Kensington tailings permit. In May, the Solicitor General's office filed a brief with the Supreme Court on behalf of the U.S. Forest Service and the Army Corps of Engineers, stating that if the Petitions were granted, it would likewise argue that the Ninth Circuit erred in its ruling against the permit, and support the validity of the earlier issued permit for the tailings facility.
"We are pleased that the U.S. Supreme Court considers the case worthy of consideration, and that the Solicitor General's office in Washington has stated it will continue its support of the permitting agencies in upholding the original permit for Kensington tailings disposal," said Dennis E. Wheeler, Chairman, President and Chief Executive Officer of Coeur. "All the main surface facilities at Kensington are complete except the tailings facility, and Coeur's focus is to move Kensington into production."
Kensington is a major gold project 45 miles northwest of Juneau, Alaska. A final Supreme Court decision or completion of alternative permitting plans may allow for construction to take place next year, leading to potential production in later 2009. Kensington is expected to produce 140,000 ounces of gold per year and has an initial mine life of 10 years based on current reserves.
COEUR ANNOUNCES U.S. SUPREME COURT AGREES TO REVIEW NINTH...
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