Amur Minerals Corporation Letter of Intent with IG Copper (8856I)
September 05 2016 - 1:00AM
UK Regulatory
TIDMAMC
RNS Number : 8856I
Amur Minerals Corporation
05 September 2016
5 September 2016
AMUR MINERALS CORPORATION
(AIM: AMC)
Letter of Intent with IG Copper
Potential Combined Processing Of Concentrates
Amur Minerals Corporation ("Amur" or the "Company"), a far east
Russian sulphide nickel copper explorer, is pleased to announce the
signing of a non-binding Letter of Intent ("LOI") with IG Copper
LLC ("IGC") to investigate potential synergies in processing the
companies' respective sulphide concentrates. The LOI was executed
on 3 September 2016 at the Eastern Economic Forum in Vladivostok,
Russia.
Amur plans to create a concentrate treatment facility adjacent
the Baikal-Amur Magistral railroad (BAM) to exploit existing
transport routes and available hydropower in the region. Amur's
Kun-Manie project will likely yield a single concentrate from its
nickel-copper sulphide ores for smelting into a saleable Low Grade
Matte ("LGM").
IGC is in a Joint Venture ("JV") with US based Freeport McMoran
and controls the Malmyzh copper gold deposit in Khabarovsk Krai,
Far East Russia. The JV has recently obtained a production licence
for the mining rights to the Malmyzh deposit, The Amur River and
the Russian rail system provide ready access to this project.
Both Amur and IGC are working closely with the Russian Far East
and Baikal Region Development Fund ("FEDF"). FEDF is dedicated to
the development of large scale projects in the Far East to upgrade
the social, economic and infrastructural sectors of this vast
region.
Both companies recognise that substantial work is required to
complete final evaluation of the metallurgical recoveries,
concentrate generation, transport, and development of final
saleable products for their individual projects. Because of the
relative proximity of the companies' projects, there may be a
substantial benefit in undertaking a collaborative effort in the
combined processing of the concentrates which could identify
mutually beneficial options and solutions to both companies'
project potential and economics.
As a collective, Amur and IGC believe that additional agreements
could be included to further enhance the potential to add value to
both projects.
Robin Young, CEO of Amur Minerals Corporation, commented:
"Development of a mine presents numerous challenges. A project
must be technically and economically viable in its own right. As
our team works toward completion of our Definitive Feasibility
Study in evaluation of Kun-Manie, opportunities arise which could
enhance the project through mutual support and participation on a
project such as this and in particular to our final treatment of
the concentrate. We look forward to evaluating the potential
synergies between IG Copper and Amur."
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Yellow Jersey
Corp. Finance LLP
Robin Young Ewan Leggat Dominic Barretto
CEO Laura Harrison Harriet Jackson
+7 4212 75 56 +44 (0) 20 3470 +44 (0) 77
15 0470 99 003 220
For further information on the Company, see the website at
www.amurminerals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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