Future of Rosemont Mine Very Certainby Jonathan DuHamel on Jun. 21, 2013, under Geology, Politics
This article is a guest post by Rick Grinnell, VP, Southern Arizona Business Coalition, www.soazbc.com in response to a press release from opponents of the Rosemont Mine.
In a recent press release by Save the Scenic Santa Ritas (“Augusta Resource Shareholders Meet, Future of Rosemont Mine Uncertain”) stating the future of Rosemont uncertain, it is apparent that this audience doesn’t understand the business of financing for major development projects or the mining industry’s history of financing. They don’t grasp or refuse to acknowledge standard financing practices of a development of this magnitude. Investors have different objectives and some are willing to take higher risks at the beginning of a project for a higher rate of return, while others may wait until certain bench marks and goals have been reached. This isn’t the first project for this type of investment and won’t be the last.
This group’s endless attacks have proven to be filled with innuendo, misstatements and in some cases, what I perceive as intentions to slander the integrity of the project and the management team. This team has over 550 years of mining experience and are some of the best in this industry. On a personal note, we here in Southern Arizona are fortunate to have this industry and the quality of personnel as neighbors and citizens. This company will be a genuine partner for many years. The good people of Rosemont Copper are personally invested, serving on various charity boards and organizations.
The opponents of Rosemont have lost every appeal. The facts cannot be discounted by emotional rhetoric and the dissemination of blatant misrepresentations of this mining project. The initial objections have been answered through an educational process about the Rosemont project. I can confidently state the greater majority of citizens of Southern Arizona are satisfied that Rosemont Copper will bring a desperately needed economic boost to our area and will do so in the most responsible and respectful way possible. This is the next generation of mining.
Finally, I take issue with Mr. Ray Carroll’s (Pima County Supervisor, District 4) assertions that the investors are being misled and, in other public forums, that this project will devastate Southern Arizona. He continues to attack Rosemont’s integrity without factual substance or merit. His continued sarcastic, arrogant and disrespectful comments are not that of a Statesman, but rather a bully on the prowl to gain personal or political leverage in his quest to find significance in his position.
Despite the continued efforts of the opposition to malign this project, the law, the facts and the integrity of the process will prevail.