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(Sharecast News) - Copper producer Asiamet Resources has signed a memorandum of understanding with Chinese outfit BGRIMM Technology in relation to the engineering and procurement of a solvent extraction and electrowinning plant for its BKM Copper project processing facility.
Asiamet Resources will work with BGRIMM and its consulting engineer NewPro Consulting & Engineering Services to provide detailed design information for all equipment packages. BGRIMM will also complete a detailed cost estimate for an engineering, procurement, and construction technical supervision scope of work for the BKM Copper Project SX-EW processing plant.
The AIM-listed group added that upon successful completion of the BKM Copper Project feasibility study ppdate and a positive final investment decision by its board, it will engage with BGRIMM on the provision of a complete engineering and procurement service contract for the plant.
Chief executive Darryn McClelland said: "Final discrete elements for the delivery of the updated Feasibility Study are nearing completion and we look forward to delivering on this in the near term and critically presenting a project with overall robust economics and attractive cashflow generation."
As of 1130 GMT, Asiamet shares were up 7.74% at 1.24p.
Reporting by Iain Gilbert at Sharecast.com
