For years Emerita Resources has blocked the development of the (new) Los Freilos mine. This is the good right of Emerita and is in line with the Spanish legal system.
But what are the negative consequences on the local people? For years, presumably 2000 more people have no work in a structurally weak part of Andalusia.
Affected before the delays of it are thousands of people especially women and children directly affected. Corona has exacerbated the difficult local economic situation. Emerita Resources does not have a good reputation in the Spanish press. I would say: the name Emerita has been burned in Andalusia's hot soil.
It is nave to think that this legal dispute could be concluded in a few months. The public prosecutor's office had tried several times in recent years to drop the case against the 9 defendants. A court has now ordered the prosecution to draw up an indictment. The motivation to do so is likely not to be very high among the prosecutors in charge ... But they have to do it.
Also, the question is whether Emerita Resources will be able - if at some point in the future, Emerita actually gets the rights to develop Aznalcollar - to fund the roughly 500mUSD CAPEX for a new UG mine. This includes a combined 100mUSD for dealing with environmental damage and operations and maintenance over the past few years.
Furthermore, if the new defendants are convicted - not accused, not accused, they are not yet legally charged - there will be no automatic mechanism whereby Emerita will be granted the rights to Aznalcollar. This will again require a court decision from a competent Spanish administrative court. Note: Criminal court and administrative court are absolutely different instances and there is no direct connection - this is the case in a modern constitutional state.
This will take many months, if not years - outcome completely open. Aznalcollar has no value for Emerita at this point in time, @Drjimjones can calculate as much as he wants. It is what it is: the law is the law!
urai58
Translated with www.DeepL.com/Translator (free version)