Business
signs MoU with China Nonferrous Metals
signs MoU with China Nonferrous Metals.
About this update from Asiamet Resources Limited
[{"type":"text","content":"\n \nRNS Number : 7436J Asiamet Resources Limited 21 August 2019 \n\n21 August 2019\n \nAsiamet signs MoU with China Nonferrous Metals\n \nAsiamet (\"ARS\" or the \"Company\") is pleased to announce it has signed a Memorandum of Understanding (MoU) with China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd (China NFC), a subsidiary of China Nonferrous Metal Mining (Group) Co., Ltd. for value engineering and Engineering, Procurement and Construction Management (EPCM) Services for the BKM Copper project located in Central Kalimantan, Indonesia.\nChina NFC is a market leading Chinese contracting group with an internationally recognised capability, having successfully completed many mine developments across the Middle East, Central and North Asia, Central and South Africa, and neighbouring countries. These implementation capabilities in nonferrous metal industry projects cover a wide range from technical assistance, technical consultancy, equipment manufacturing and supply to project management, project implementation and financing. \nOf particular relevance to Asiamet, China NFC together with its Indonesian partners is currently building the Dairi Zinc Mine in North Sumatra, Indonesia and actively working to expand its presence in the country.\nAs part of the proposed engagement with Asiamet, China NFC will undertake a detailed evaluation of the technical and financial aspects of the BKM copper project and propose a series of solutions to the Company with respect to the value engineering and EPCM components of the proposed BKM mine development. Utilising a China and local Indonesian-Southeast Asian sourcing strategy is expected to lower some of the BFS capital cost inputs and enhance overall project economics. The potential to access China NFC's strong linkage's with Chinese capital providers and project and equipment financiers will be explored in detail as part of this engagement.\nAsiamet intends to work with China NFC to further enhance the value of the BKM copper project through the provision of services in the following key areas:\n· Engineering and Design, including value engineering, front-end engineering design, development of schedules, budgets and work packages for major plant and equipment capital items, facilities arrangement;\n· Pr...