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Amur Obtains Water Allotment Next To Kun-Manie Site In Russia

Thu, 7th May 2015 09:14

LONDON (Alliance News) - Amur Minerals Corp Thursday said it has obtained a 112 square kilometre water allotment adjacent to the planned mill site at its Kun-Manie nickel copper sulphide project in Russia.

The water allotment area will be examined using various geophysical survey methods and subsequently drilled to determine the sources from which water will be drawn to process the proposed production of 6 million tonnes of ore per year. It will also provide potable water to support a 1,000 person operation, the company said.

Amur added that no significant costs will be incurred during the first phase of the programme, which will be conducted during the remainder of 2015, and said the water allotment has been obtained in advance of the award of the production licence in order to allow the company to continue advancement of the project while simultaneously incurring a minimal cost.

"Whilst we await the Russian government's award of the production licence, Amur continues its concerted effort to advance the project wherever possible. This basically consists of desktop studies utilising our existing staff thereby incurring little cost. By undertaking a series of tasks such as this, we are moving the project forward and limiting delays," Chief Executive Robin Young said in a statement.

"We are also now in the process of identification of sand and gravel required for construction, limestone sources, and metallurgical coal availability. By completing these types of tasks now, Amur is moving the project forward. Presently, we anticipate a four-month field season this year during which we anticipate the completion of up to 6,000 meters of infill drilling," Young added.

Shares in Amur were trading down 3.1% at 12.84 pence Thursday morning.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

Copyright 2015 Alliance News Limited. All Rights Reserved.

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