Amur lays out strategic plan at Kun-Manie, looks for partners

The AIM-traded firm said the strategic plan included four primary areas, the first being engineering, namely the development of the Kun-Manie project to a bankable feasibility study level.

It said the second area was off-site infrastructure, where it planned to continue off-mine site development related to the necessary access road, railway station and transport considerations.

Thirdly, Amur said it was focussing on engaging a strategic partner, including identification, negotiations and engagement of at least one appropriate and credible industry partner.

Finally, it reported that it was implementing a phased funding approach intended to cover potential, partner-specific terms and conditions and project engineering, procurement, and construction management considerations.

“The Kun-Manie nickel copper sulphide project has now been sufficiently explored wherein the resource and numerous studies have confirmed both its technical and economic potential to produce Class 1 nickel suited for the expected growth of the electronic vehicle market,” said Amur Minerals chief executive officer Robin Young.

“The fully integrated strategic plan is intended to build on the company's exploration success and address the technical and financial challenges a junior miner, such as Amur, faces when it controls 100 per cent of the largest undeveloped nickel sulphide project immediately adjacent the world's three largest nickel consumers.”

Young said Amur recognised that it needed to undertake all future development in a structured manner, which would ensure the best outcome for all stakeholders.

“It also understands that, in order to bring a project of this scale into production, substantial financial commitments will be required.

“This is likely to mean that the company will engage with one or more strategic partners, as and when is necessary, as well as various other groups that have the expertise to assist Amur in delivering the project to its full potential.”

Those future relationships would encompass business sectors including operations at the mine, a major road construction project, rail load out facilities, a potential furnace or flash smelter, transport of the product across international borders and regulatory considerations within both Russia and the nations to which the product will be delivered, Young explained.

“Going forward, Amur and its management team will be working to progress the Kun-Manie project up the mining value curve, although this will now feature more corporate and project development work rather than exploration work.

“We will also be intensifying our past and current activities to identify additional, well suited, expertise and industry partners, who tend to contribute at an asset rather than group level.

“I look forward to updating shareholders with our continued progress.”