Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Asiamet Resources reports progress on BKM copper project despite Covid delays

% of readers think this story is Fact. Add your two cents.


Asiamet Resources Ltd said it has faced many challenges from the impact of Covid-19 in Indonesia but is making “substantive progress” on the development of the BKM copper project.

The project, in Central Kalimantan, Indonesia, has been affected by a significant increase in the number of COVID-19 infections across the country, with a series of lockdowns and extensive travel restrictions implemented

A number of staff and contractors have been affected, Asiamet said, with travel restrictions also slowing progress on various workstreams.

Value engineering activities are progressing to plan, the company said as it reviews and runs new economic models for the BKM project based on new estimates in a first-pass detailed report received from consultants NewPro, which provides capital and operating cost estimates for both tank-leach and copper rich pyrite concentrate processing options compared with the heap leach option in the 2019 Feasibility Study.

While mobilisation of equipment for site preparation and drilling has been delayed due to local coronavirus restrictions, Asiamet said it has started the drilling program with the first hole of a 3,000 metre program completed. 

Progress was also reported on obtaining a project development partner, with five high-calibre investors having signed non-disclosure agreements and at various stages of due diligence, with the aim of reaching a deal to see the project funded through to construction.

Discussions with several European and Asian mining finance banks were also reported, with initial feedback “positive”.

“While we have had some very real challenges with COVID 19 impacts in Indonesia, Asiamet is very pleased with the substantive progress being made on its development path for the BKM copper project,” said executive chairman Tony Manini.

“With a strong focus on the health and wellbeing of our employees and contractors as our first priority, financing and development related activities are continuing at pace and closing in on a number of important project enabling milestones.”

“Drilling underway to expand the BKM and BKZ Resources is expected to demonstrate the potential for significant production growth and mine life upside at this important time for project financing and partner discussions. We look forward to keeping stakeholders updated on our progress at this exciting time for the company.”

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/958234/asiamet-resources-reports-progress-on-bkm-copper-project-despite-covid-delays-958234.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.