AMC.L Share News (AMC)

(ShareCast News) - Eastern Russia-focused base metals exploration and development company Amur Minerals reported that its executive management and key local staff had completed a series of meetings with various state and federal agencies of Russia's Far East Region on Monday.The AIM-traded firm said the meetings were held with regards to infrastructure requirements for its Kun-Manie nickel copper sulphide deposit in the northeast of the Amur Oblast.It said the meetings were the first to be completed since the announcement of the memorandum of understanding with Jinchuan Group, announced on 31 October.In addition, a previously-completed financial advisory agreement with the Far East Investment and Export Agency, continuation of its working relationship with the Far East and Baikal Region Development Fund in a heads of terms, and a letter of intent with IG Copper were also completed, the board said, which were key to the company's ongoing discussions relating to infrastructure development at Kun-Manie.The agreements provided the company with a series of alternatives to the development of the project which were now under consideration.On a standalone basis, directly related to Amur's Kun-Manie project, a 320 kilometre-long road from the mine site to the Baikal Amur Rail Line would be required.The company now also had three options available to its treatment of the Kun-Manie concentrate, including toll treatment of part or all of concentrate by a contract smelting company, likely to be located in China.Other options included the construction of an owner-operated concentrate treatment facility alongside the BAM to treat Kun-Manie concentrate only, or the construction of a concentrate treatment facility with excess capacity allowing the company to treat sulphide concentrates from other companies.The available concentrate treatment options require unique considerations in design of the infrastructure, the board said, 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 Aleksandr Kozlov, the Deputy Head of the Government, state ministers and additional staff of the state and regional ministries.Meetings with representatives of the Russian railway system were also held."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," said CEO Robin Young."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."