Asiamet Resources signs Memorandum with China Nonferrous Metals

AIM-listed Asiamet Resources (ARS)  announced on Wednesday that it had signed an MoU with China Nonferrous Metal Mining Group for the provision of its services at the BKM Copper project in Central Kalimantan, Indonesia.

Under the Memorandum, China Nonferrous's subsidiary, China Nonferrous Metal Industry's Foreign Engineering & Construction Company will offer engineering, procurement and construction management services at the BKM Copper project. 

As a leading Chinese contractor, China NFC has demonstrated international status through a range of successful mine developments across the Middle East and Africa, as well as surrounding countries. Currently, the company is building a zinc mine in the North Sumatra region in Indonesia and as a result, is actively working to expand its presence in the country. 

China NFC lends its capabilities to industry projects by offering support across a range of services from technical assistance and consultancy to project implementation and financing.

As part of the understanding with Asiamet, China NFC will undertake an evaluation of technical and financial aspects to propose a series of solutions for the engineering components of the BKM mine development. 

Asiamet's Executive Chairman, Tony Manini, expressed the group’s excitement over the proposed engagement with China NFC and characterised the signing of the MOU as “an important strategic milestone” for the company. He commented:

“Engaging the services of such a highly credentialed Chinese Company to provide support for the value engineering phase is expected to enhance the overall economics and executability of the BKM project and provide access to a wider investor network in Asia.”

He added: “The signing of this MOU and the initiation of the value engineering phase clearly demonstrates our ongoing commitment to developing the BKM copper project in the shortest time frame possible.”

Looking ahead, shareholders can expect further updates as the BKM project advances towards production, the company explained.

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