TIDMARS
RNS Number : 4135K
Asiamet Resources Limited
04 January 2021
4 January 2021
Important Environmental Approval Received for BKM Copper
Project
Asiamet Resources Limited ("Asiamet or the "Company") is pleased
to announce the Company has received a further key approval for the
BKM copper project development, located in Central Kalimantan,
Indonesia.
Approval for the Company's revised AMDAL, the Environmental
Permit, that allows the project to proceed to the final step to
secure a forestry borrow-to-use permit ("Pinjam Pakai", or
"IPPKH-OP") from the Government of Indonesia.
IPPKH-OP / Pinjam Pakai
The BKM copper project overlaps with a forest area that allows
commercial activities including mining. This overlap requires the
project operator to obtain a 'borrow-to-use forestry permit' (Izin
Pinjam Pakai Kawasan Hutan, IPPKH). To secure the 'conditional
approval' of the Pinjam Pakai permit the Company has satisfied the
following key milestones:
-- Governor's Recommendation - COMPLETED: The Company has
demonstrated technical and commercial viability to the Governor of
Central Kalimantan and has subsequently received this approval.
This was an extensive process with many inter-departmental
approvals required for environment, technical, financial and
community development needs all being satisfied for the BKM Copper
Project.
-- Revised AMDAL - COMPLETED: The AMDAL is an environmental
impact assessment prepared by the Company for approval by the
Provincial Government Environmental Agency in Central Kalimantan.
As a result of some changes in project scope such as port location
and logistics routes, a number of surveys and an extensive
stakeholder and community engagement process was required to update
the AMDAL. The provincial government and other stakeholders
including communities have now provided their support for the
project advancing to the development stage.
The completion of these permitting workstreams enables the
Company to commence the conditional approval process for the Pinjam
Pakai with the Ministry of Environment and Forestry (MoEF). The
approval will be conditional upon fulfilment of several
requirements, from the MoEF, including surveys for rehabilitation,
finalisation of a reclamation bond, MoU with forestry concession
holders, boundary tagging of borrow-to-use area and supporting
facilities, and a timber utilisation permit. This is the final
permit that allows the Company to progress to development and
construction of the BKM Copper project.
Asiamet's Executive Chairman, Tony Manini commented:
"Achieving these important permitting milestones during COVID-19
where we have had considerable restrictions in the movement of
personnel and government officials is a terrific achievement by our
local teams in Jakarta and Palangkaraya. Receiving conditional
approval for the Pinjam Pakai permit is a key milestone in the
development path of the BKM copper project and each interim
approval is an important de-risking step in achieving that major
permitting objective for the project. We look forward to keeping
stakeholders informed as we continue to progress the BKM copper
project towards development at a time of stronger copper prices and
investor appetite for new copper opportunities."
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Executive Chairman
For further information, please contact:
-Ends-
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: tony.manini@ asiametresources .com
Investor Enquiries
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com / info@asiametresources.com
Blytheweigh Communications Limited
Tim Blythe/Megan Ray
Telephone: +44 (0)20 7138 3204
Email: Tim.Blythe@blytheweigh.com /
Megan.Ray@blytheweigh.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Bhavesh Patel / Stephen Allen
Telephone: +44 (0)20 3440 6800
Email: Bhavesh.Patel@rfcambrian.com / Stephen.Allen@rfcambrian.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Follow us on twitter @AsiametTweets
FORWARD-LOOKING STATEMENT
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
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