EMED Mining (LON:EMED) has been awarded an €8.8mln EU grant for its Rio Tinto copper project in Spain.
EMED applied for the grant in 2013 to help its modernisation of the mineral processing equipment. The Junta de Andalucía has now approved the grant as a subsidy to EMED´s investment.
The grant is administered by the Junta de Andalucía through the Andalusian Innovation and Development Agency, which support projects with potential for innovation and job creation.
It will be payable as a reimbursement of EMED's expenditure as project execution progresses and after due process is completed.
It also confirms the Junta de Andalucía’s support the plans to re-start the Rio Tinto mine, EMED said.