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Receives Key Approvals for BKM Copper Project
Receives Key Approvals for BKM Copper Project.
About this update from Asiamet Resources Limited
[{"type":"text","content":"\n \nRNS Number : 1448S Asiamet Resources Limited 07 March 2019 \n\n07 March 2019 \n \nAsiamet Receives Key Approvals for BKM Copper Project \n \nAsiamet (\"ARS\" or the \"Company\") is pleased to announce the receipt of two very significant approvals for its 100% owned BKM copper project (\"BKM\") located in Central Kalimantan, Indonesia. \nHighlights:\n· Acceptance and approval of the BKM Feasibility Study required by Indonesian regulations\n· Approval of the Environmental Impact Assessment (\"AMDAL\")\nThe Government of Indonesia (\"GOI\") has formally approved a Feasibility Study completed by the Asiamet team to meet Indonesian regulatory standards for the BKM copper project along with the Environmental Impact Assessment for the project. Recent infill and geotechnical drilling is expected to further enhance the BKM feasibility study in preparedness for external project financing. \nThe AMDAL is an environmental and social impact assessment that the Company formulates as part of the intended project execution strategy. The Company was required to demonstrate to the GOI and local communities that it has a sustainable pathway for development and community engagement as part of the project execution plans. Overwhelming support was received by from the local community for the project to progress towards development.\nThe parallel approval of the AMDAL is a major milestone for the Company as this process along with subsequent approvals typically takes between 6-12 months following the approval of the GOI Feasibility Study. The achievement of this important permitting milestone simultaneously with approval of the GOI feasibility study substantially de-risks the timelines for development of the BKM copper project.\nPeter Bird, Asiamet's Chief Executive Officer, commented: \n\"The approval of the GOI FS is a major milestone for the Company that has been completed on schedule. Attached to this was the parallel approval of the AMDAL which has been completed well ahead of schedule. These milestones set us up well for the production permits for the project which we would anticipate receiving in late 2019 to early 2020 as per our original planning. Operationally the infill Resource definition drilling and...