viewAmur Minerals Corp.

Amur Minerals to accelerate Kun-Manie production plans

The licence covers an area of 36 sq kms and runs until the 1 July 2035.

Amur Minerals is to accelerate its production plans at Kun-Manie.

Amur Minerals (LON:AMC) is to accelerate its production plans after the issue of the "Detailed Exploration and Mine Production Licence" for the Kun-Manie nickel copper sulphide deposit.

The licence requires detailed exploration and pre-production plans, called the "Proekt", to be approved by the Russian government by 1 December.

These plans have already been completed and submitted for approval, Amur said. A pre-production evaluation has to be presented by 1 December 2020 with a mining plan no later than 1 June 2022.

Amur added that these are previously negotiated deadlines and it wants to move into production quicker than this schedule.

The licence covers an area of 36 sq kms and runs until the 1 July 2035. Payment of a US$429,000 one-off fee will be made shortly, the company said.

Amur holds all of the rights to recover all economically valuable minerals including nickel, copper, cobalt, platinum, palladium, and other minor minerals from the licence.

Robin Young, Amur’s chief executive, said: "The Russian Government, particularly Rosnedra, has acted quickly and efficiently to expedite the issuance of the Kun-Manie Production Licence. 

“We have considerable flexibility to advance the project as swiftly as possible. 

“Our push to accelerate toward a production decision is in the interests of our shareholders as well as the Russian Government. 

“Kun-Manie has now become a key driver for economic growth in the Far East of Russia."

Quick facts: Amur Minerals Corp.


Price: 1.9925 GBX

Market Cap: £27.49 m

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