The Council of State issued its decision No. 1990/2007, which allows the continuation of exploitation of S&B Industrial Minerals S.A.'s bauxite deposits, in accordance with the environmental terms determined by the pertinent Common Ministerial Decree, with the exception of certain, specifically designated, deposits. Upon publication of the above mentioned decision, the temporary suspension of works, which had been in force with decision No. 504/2006 of the Commission of Suspension of the Council of State, is lifted.
The decision of the Council of State resolves the uncertainty related to our bauxite production in Greece and allows us to gradually restore the production and investment programs of operations to satisfy our customers' needs on an ongoing basis. Moreover, the Company is now in a position to pursue significant new opportunities in the international bauxite market.
In its decision, the Council of State defines the concept of sustainable development, and specifically refers to the need to balance the protection of the environment with factors related to the general and public interest, such as economic growth, development of natural resources, promotion of regional development and job creation. For our Company, commitment to sustainable development is an integral part of our strategy and we operate systematically and effectively to protect and restore areas that are affected by our mining activities.