Amur Minerals Corporation Infrastructure Update (5043R)
12 December 2016 - 7:00AM
UK Regulatory
TIDMAMC
RNS Number : 5043R
Amur Minerals Corporation
12 December 2016
12 December 2016
AMUR MINERALS CORPORATION
(AIM: AMC)
Infrastructure Update
Amur Minerals Corporation ("Amur", "AMC" or the "Company"), the
exploration and development company focused on base metal projects
located in the Far East of Russia, is pleased to report that its
executive management and key local staff have completed a series of
meetings with various State and Federal agencies of the Far East
Region. The meetings have been held with regards to infrastructure
requirements for the Company's Kun-Manie nickel copper sulphide
deposit in the northeast of the Amur Oblast.
These meetings are the first to be completed since the
announcement of the Memorandum of Understanding ("MOU") with
Jinchuan Group which was announced on 31 October 2016. In addition,
a previously completed financial advisory agreement with the Far
East Investment and Export Agency ("FEIE"), continuation of its
working relationship with the Far East and Baikal Region
Development Fund ("Fund") in a Heads of Terms and a Letter of
Intent ("LOI") with IG Copper have also been completed and are key
to our ongoing discussions relating to infrastructure development
at Kun-Manie.
The agreements provide the Company with a series of alternatives
to the development of the project which are now under consideration
related to the infrastructure. On a standalone basis and directly
related to the Company's Kun-Manie project, a 320 kilometre long
road from the mine site to the Baikal Amur Rail Line ("BAM") is
required.
The Company also has three options available to its treatment of
the Kun-Manie concentrate. These include:
-- Toll treatment of part or all of concentrate by a contract
smelting company (likely to be located in China),
-- Construction of an owner operated concentrate treatment
facility, alongsidethe BAM to treat Kun-Manie concentrate only,
or
-- To construct a concentrate treatment facility with excess
capacity allowing the Company to treat other companies sulphide
concentrates.
The available concentrate treatment options require unique
considerations in design of the infrastructure with regard to
transportation via road and rail and the access to power. With the
newly established agreements, infrastructure development requires
specific investigation to identify the most beneficial financial
option for the Company.
Key participants to the meetings included the Governor of Amur
Oblast (Mr. Aleksandr Kozlov), the Deputy Head of the Government,
State Ministers and additional staff of the state and regional
ministries including that of Natural Resources, Amurnedra,
Transport, Forestry and Economic Development. Also, meetings with
representatives of the Russian Rail system were held.
Mr. Robin J Young, CEO of Amur Minerals Corporation stated:
"The continued support and input from the multiple Russian
agencies at all levels is a key aspect to the successful
development of our Kun-Manie project. We have been and continue to
remain focused on maintaining a long term relationship which is
mutually beneficial to all participants in both the public and
private sectors. The support from these agencies is invaluable as
the project moves forward toward production."
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Yellow Jersey
Corp. Finance LLP PR
Robin Young Ewan Leggat Charles Goodwin
CEO Laura Harrison Harriet Jackson
+7 (4212) 75 +44(0)7544
56 15 +44(0)20 3470 0470 275 882
For additional information, visit the Company's website,
www.amurminerals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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