Amur Minerals partners with Chinese miner to assess Russia project

31st Oct 2016 12:14

(ShareCast News) - Shares in AIM-listed miner Amur Minerals soared as it announced that it had signed a memorandum of understanding with Jinchuan Nickel & Cobalt Research and Design Institute of Jinchang, China to assess the potential of its nickel and copper project.The memorandum of understanding with Jinchuan, a subsidiary of Jinchuan Group, is related to engineering, design, procurement and construction activities with the company's Kun-Manie nickel copper sulphide project in far east Russia, the potential of which Jinchuan's technical team will assess to help the company develop it.Chief executive Robin Young said that with the project's proximity immediately adjacent to China, the company is now poised to incorporate the country into its development strategy."Jinchuan possesses the full component of engineering requirements ranging from mining, ore concentration, transportation, smelting and refining primarily related to the production of nickel, copper, cobalt and platinum group metals, which is a significant factor for Amur."Jinchuan Group, the largest producer of nickel in China and third largest internationally, is a joint venture partner in several base metal mines in Asia, South America and Africa.Shares in Amur Minerals were up 21.23% to 4.21p at 1223 BST.