TIDMARS
RNS Number : 7971F
Asiamet Resources Limited
17 July 2019
17 July 2019
Asiamet Receives Key Environmental Approval for BKM Copper
Project
Asiamet ("ARS" or the "Company") is pleased to announce the
receipt of a key permit for its 100% owned BKM copper project
("BKM") located in Central Kalimantan, Indonesia. The Environmental
permit, issued by the Provincial Government of Central Kalimantan
allows the Company to proceed with the development of the BKM
project mine and infrastructure including supporting activities,
through to closure of operations.
This is a significant milestone for the Company and represents
many months of work by the team in Indonesia. Specifically the
Environmental permit has been granted for the entire KSK Contract
of Work (39,443 hectares). It allows the Company to undertake
activities for the following work phases:
-- Pre-Construction - including exploration, general use of land and public consultation.
-- Construction - including mobilisation and demobilisation of
equipment, undertaking necessary clearing land for construction of
mine and supporting infrastructure, construct and improve quality
of roads where required, employ operational workforce.
-- Operations - including, stripping off top soil, drilling and
blasting activities, loading and hauling including mining
activities to extract copper ore, processing of ore including all
leaching activities, and transport of finished goods
-- Post Operations - including, demobilisation of equipment,
demobilisation of infrastructure as required and reclamation
activities.
The permitting process in Indonesia is well structured and
systematic, similar to other established mining jurisdictions
globally and Asiamet's highly experienced in-country team has
worked diligently with the various government departments to secure
all the major approvals required to date. The next major regulatory
milestone required for the commencement of project development is
receipt of the Pinjam Pakai or "borrow and use" permit from the
Government of Indonesia Forestry Department. Work is now underway
to secure a number of the sub-permits required to fulfil the
requirements of the Pinjam Pakai.
Through the support of its long established and internationally
recognised community development fund "Yayasan Tambuhak Sinta",
Asiamet maintains excellent relationships and strong local
community support for the KSK project, a critical element to
successfully advancing through the permitting regime.
Peter Bird, Asiamet's Chief Executive Officer, commented:
"Following completion of the BKM Feasibility Study, Asiamet
continues to focus on assessing each of the value enhancement
opportunities identified in the BFS, further de-risking the BKM
project through completion of the remaining permitting milestones,
and advancing a range of funding options for ongoing development of
both the BKM project and the Company's high quality copper, gold
and polymetallic base metals project portfolio.
The timely receipt of the Environmental Permit from the Central
Kalimantan Provincial Government is another significant permitting
milestone for the Company and testament to the ability of our
Indonesian team to systematically work with the various regulatory
authorities to meet governmental requirements and deliver the
permits required to commence development of the BKM."
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Bird, Deputy Chairman and CEO
For further information, please contact:
-Ends-
Peter Bird
Deputy Chairman and CEO, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: peter.bird@asiametresources.com
Tony Manini
Executive Chairman, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: tony.manini@asiametresources.com
FlowComms Limited
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Telephone: +61 8 9480 2500
Email: Andrew.Thomson@rfcambrian.com /
Stephen.Allen@rfcambrian.com
Berenberg
Matthew Armitt, Detlir Elezi
Telephone: +44 20 3753 3142
Email: Matthew.Armitt@berenberg.com /
Detlir.Elezi@berenberg.com
Liberum
Clayton Bush, Kane Collings
Telephone: +44 7773 322679
Email: Clayton.Bush@liberum.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Follow us on twitter @AsiametTweets
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDSFFSIWFUSEDW
(END) Dow Jones Newswires
July 17, 2019 02:00 ET (06:00 GMT)
Asiamet Resources (LSE:ARS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Asiamet Resources (LSE:ARS)
Historical Stock Chart
From Jul 2023 to Jul 2024