Founded in 2004, Amur Minerals Corp is a Nickel copper sulphide mineral exploration business focused on the far east of Russia. The company and its subsidiaries are engaged in acquisition, evaluation, exploration and development of mineral projects and properties. The company’s shares are traded on the Alternative Investment Market segment of the London Stock Exchange as LON: AMC since 2006.
The company’s primary asset is the Kun-Manie sulphide, copper and nickel projects located in Amur Oblast, which is one of the largest potential sulphide nickel project globally. The company’s objectives are to expand the Kun-Manie resource and reserves, identify available funding opportunities for mine development and engineer and design the Kun-Manie deposit leading to production.
The Kun-Manie asset of the company consist of four largest drill defined deposits that includes, Kubuk, Maly Kurumkon/ Flangovy, Ikenskoe/ Sobolevsky and Vodorazdelny. Engineers confirmed that the mineralization consist economically recoverable grades that can be mined by both open pit and underground operations, the deposit can be processed by classic flotation with the concentrate being suitable for follow on refining and processing. Its resources rank it among the largest underdeveloped nickel sulphide businesses globally, with 155.1 million ore tone resource within four deposits. The total nickel equivalent tonnage is 1.58 million tonnes and the average nickel equivalent grade id 1.02%. Further, the company has right till 1 July 2035 to recover 100% of the contained metal based on 20 year production licence over the 36 square Kilometer “Detailed Exploration and production Licence” area. Before this the company also held a 940 sq km “Exploration Licence”.
In August 2020, the company invested in secured convertible loan notes of Nathan River Resources Pte Limited (NRR), for US $4.67 million at a 14% coupon rate for three years, later it will be converted into 13.43% of the current issued capital of NRR. In the Northern Territory in Australia it also owns the Roper Bar Iron Ore Project, which was acquired in 2017. The Nathan River Resource Pte Limited currently has a two stage development programme, the three year Stage 1 plan consist of the production and planned sale of 4.0Mt of DSO production and around 1.0 ,t of Dense Media Separation products for the total annual production of 1.5 Mt to 1.8 Mt. the Stage two consist of the installation of a silica flotation plant with a nominal annual production rate of four to five million tonnes, which need to be mined from the currently drill defined 446 Mt resources.
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