AMC.L Share News (AMC)

Nickel-copper explorer Amur Minerals jumped after reporting developments at its Kun Manie metal project in Russia.The group has received approval from Federal Security Service and the Ministry of Defence for the nickel deposit and said it was subsequently completing a number of updates, approvals and protocols that will allow it to apply to convert the 36 square kilometre area.Once these have been completed, the Russian state licensing agency, Rosendra, will submit the permit to its parent organisation, the Ministry of Natural Resources, before being passed onto the deputy prime minister for a final sign-off and the issue of the licence.Chief executive Robin Young said: "The company is pleased that all necessary updated materials have been provided and approved allowing us to continue advancing the mining application through the award process."We are finalising agreement of the terms related to the mining licence with Rosnedra and will continue close cooperation with the Russian authorities in supporting their activities and by responding to any additional queries that they may have. We appreciate their positive stance on finalising the terms in a timely manner."