Saturday, September 03, 2011

State Lands says Florence Copper project is "no substantial threat" to the environment

The Arizona State Land Department has found that the proposed Florence Copper Project presents "no substantial threat" to the environment and the economic benefits outweigh other concerns, according to a story in the Casa Grande Dispatch.

The article quotes opponents to the project, led by owners of nearby lands intended for residential and commercial development, who argue that State Lands has a financial interest in the project, so their decision is not independent. The in situ mining project includes 160 acres of state trust lands out of the 1,342 total acres, expected to generate $100 - $150 million in royalties to the trust fund over 20-25 years. [right, injection well for in situ project. Credit, Curis Resources]

They also argue that the value of over 3,000 acres of nearby state trust lands will be "drastically diminished" by the copper project and that violates the departments obligation to maximize revenue for its beneficiaries.

My calculation is that for State Land to walk away from $100-150 million in order to purportedly maintain the property values on another 3,000 acres, those lands would have to lose value at the rate of $33,000 - $50,000 per acre.

1 comment:

  1. Anonymous10:17 PM

    How about after Curis ruins our water you, your family and the ones you hold dear drink the water everyday? It is very ignorant to not focus on the community that lives only 1.5 miles from the potential in-situ mining that stands to ruin our precious water source. In addition, there is a K-8 school that educates about 1,000 students. Yes, the water flows northwest from their site - which is right into our community. I am sure with all of your education you are aware that there has never been a successful restoration after an in-situ mining project. Do you also remember May 18, 2011 when Gov. Brewer released $30 million dollars from the 1.8 billion dollar settlement from mines for clean-up and restoration? How many people were left in life altering situations? Illnesses caused by the natural radioactive reaction that occurs when these chemicals are put into the groud? Believe me - That is nothing compared to what will happen in this case. As you were aware of the concerns as a state -there will be a HUGE CLASS ACTION SHOULD ANY HARM COME TO OUR WATER SOURCE. Oh, and Curis will be taking the majority of the money back to their country - Canada. P.S. AZ is left holding the bag. That would make Arizona (and you as an employee) guilty and we'll be taking your precious money that you are so concerned about making form this operation!!!!!!!