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20 Mar 2013 07:00
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20 March 2013
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AMUR MINERALS CORPORATION
(AIM: AMC)
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Far East Development Programme Update
Amur Minerals Corporation ("Amur" or the "Company"), a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to update investors that further to the announcement dated 25 February 2013 the draft Development of the Russian Far East ("DRFE") programme submitted to the Federal authorities by Minvostockrazvitiya has been preliminarily accepted at the Federal level in Moscow, Russia. Key aspects include the following:
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Β·; An 11.0 trillion Rouble (approximately 355 million USD) development plan has been preliminarily approved for the development of the Far East District.
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Β·; The Federal contribution to the development plan totals 3.9 trillion Roubles (approximately 125 million USD) with the remainder being derived from international and national investors. Funds will ultimately be distributed amongst the nine states.
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Β·; A total of 68% of the preliminarily approved funds have been earmarked for infrastructure development related to the development of transport and energy projects.
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Β·; The mining industry is an integral part of the programme and the Company's Kun-Manie project has been included as a part of the long term development plan by the officials of Amur Oblast, a part of the Far East District.
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A meeting has been scheduled for 21 March 2013 to review and consider the draft proposal. Substantial changes to the programme and funding may result from additional input by key agencies. The Company will provide updates at the programme is further refined and developed.
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CEO Robin Young states, "This is an encouraging decision made by the Russian government and we look forward to being a participant in the development programme of Far East Russia. This area has been seeking investors for some time and the DFRE programme demonstrates the governments' confidence in far eastern assets and solidifies its sincerity in attracting foreign investment. We fully support the programme to develop the area where we have already demonstrated our dedication to the region and its people by investing over 25 million USD over the last eight years. This level of investment is substantive proof of the seriousness of our Company to be a participant in the advancement of the region."
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Enquiries:
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Company Amur Minerals Corp. | Nomad and Joint Broker RBC Capital Markets | Joint Broker Sanlam Securities UK Limited | Public Relations Tavistock Communications |
Robin Young CEO Β | Martin Eales | Lindsay Mair Max Bascombe | Jos Simson Jessica Fontaine |
+44 (0) 7981 126 818 | +44 (0) 20 7653 4000 | +44 (0) 20 7628 2200 | +44 (0) 20 7920 3150 |
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