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IN BRIEF: Amur Minerals wins approval for a 19-year open pit

Tue, 07th Jun 2022 21:16

Amur Minerals Corp - natural resources explorer with assets in Russia - Completes a Russian feasibility level study at its Kun-Manie nickel copper sulphide project in Russia. The Russian Federation State Committee on Reserves approves a 19-year open pit operational design with revenue generation derived from two saleable concentrates allowing for the recovery of both copper and nickel. The total net present value deliverable to the Russian Federation is projected to be USD628 million.

Chief Executive Robin Young says: "The TEO Project feasibility study results generated by the GKZ expert commission indicates the Kun-Manie operation should be scaled up to as much as 12.4 million ore tonnes per year for a 19 year open pit operation. This is a more than doubling of the previously anticipated capacity of 6.0 million ore tonnes per year."

Current stock price: 0.86 pence

12-month change: down 42%

By Heather Rydings; heatherrydings@alliancenews.com

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Amur soars on reserves estimate submission

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IN BRIEF: Amur Minerals wins approval for a 19-year open pit

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