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Amur Minerals shifting to lower-cost, one lane access road for its Kun-Manie nickel-copper sulphide project

The group said the updated estimate based on the one-lane design indicates the average cost to construct a kilometre of the road is US$382,000 including bridges, diversions and culverts

Ice road
Amur added that the total capital cost of the 338-kilometre long road is anticipated to be in the order of US$129mln

Amur Minerals Corporation (LON:AMC) is shifting to a lower-cost, one lane access road to link the planned mine site with the Baikal Amur Rail Line on its wholly-owned Kun-Manie nickel-copper sulphide project.

The nickel-copper sulphide mineral exploration and resource development company focused on the Far East of Russia said the updated estimate based on the one-lane design indicates the average cost to construct a kilometre of the road is US$382,000 including bridges, diversions and culverts. 

READ: Results from Amur Minerals’ 2018 drill programme at Kun-Manie verified

The group added that the total capital cost of the 338-kilometre long road is anticipated to be in the order of US$129mln.

It noted that previously reported and utilised capital cost estimates per kilometre for the access road ranged from US$500,000 to US$1mln for a two-lane road and approximately US$440,000 for a one lane road.

Amur pointed out that the ability to reduce the width of the road still allows the company to deliver the annual production of up to 400,000 tonnes of concentrate to the rail station and also allow for the back-haul supplies to the mine site.

Robin Young, Amur Minerals’ CEO, commented: “Confirmation of the ability to shift to the lower cost, one lane option is a significant change in the operating configuration planned for Kun-Manie.”

He added: "Following the review of the comprehensive PFS by an independent QP we are comfortable this is a viable option to developing the planned operation."

In morning trading on Friday, shares in Amur Minerals were 3.5% higher at 3.00p.

Quick facts: Amur Minerals Corporation

Price: 2.28 GBX

LSE:AMC
Market: LSE
Market Cap: £19.06 m
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Amur Minerals highlights significant increase in underlying earnings for...

Robin Young, chief executive at Amur Minerals Corporation (LON:AMC), discusses with Proactive's Andrew Scott an increase in the projected global underlying earnings (EBITDA) assessment of the mining potential at the Kun-Manie nickel copper sulphide project. The projected EBITDA has...

on 16/4/18

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