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Amur Minerals hits the ignition on Kun-Manie access road project
Exploration and resource development company Amur Minerals said on Thursday that it will take the inaugural step in the design of an access road to its Kun-Manie project in Russia.
The planned 350 kilometre long road will link the large nickel and copper mine at Kun-Manie with the Ulak rail station area and the design will undergo a desktop review considering bridge and crossing designs, hydrological considerations, potential cut and fill volumes and more.
Kun-Manie is one of the largest nickel reserves in the world, having current estimated reserves of 101.3m ore tonnes with a nickel equivalent grade of 1.03% and an in-situ value of $10.5bn using 1 February 2017 metal prices.
The mine is 100%-owned by Amur Minerals.
Robin Young, Chief executive of Amur Minerals, said: "The access road has always been a key variable in ensuring that we can successfully mine the largest undeveloped nickel copper sulphide deposit located immediately adjacent the three largest international nickel consuming nations of China, Japan and Korea. This road will allow Amur to deliver concentrate into the rail system for delivery to market."
The first steps of the road construction project will be carried out by JSC Cevi Construzioni, a road design company which estimates completion of the first stage within 8 to 12 weeks of the 12 March project commencement date.
"With Cevi Construzioni, the Russian Federation certified road design group, we have engaged an experienced road support company, which is familiar and experienced in the region having worked in both permafrost conditions and as a subcontractor on nearby projects including the Elga Coal project to the north of Kun-Manie in the Sakha Republic (Yakutia)," said Young.
As of 0830 GMT, Amur Minerals' shares were down 6.44% at 5.15p.