Amur Minerals' shares boosted following shipping collaboration with GEFCO

23rd Jul 2018 13:56

(Sharecast News) - Nickel-copper sulphide mineral exploration and resource development firm Amur Minerals saw its shares jump on Monday after it entered into a memorandum of collaboration with GEFCO LLC.Under the terms of the memorandum, GEFCO, a Russian supply chain consulting firm that is 75% owned by JSC Russian Railways, will address The AIM traded company's rail and shipping transport requirements for the construction of the Kun-Manie nickel project in the east of Russia.Amur's requirements include supply support and saleable product delivery to the Asian markets of China, Japan and Korea and other international opportunities.Valeria Seledkova, general director of GEFCO Russia, said: "The project requires an intricate approach, and with the MOC signed, we're ready to develop tailor-made logistic solutions. At GEFCO, we always integrate on demand and welcome challenges."The company said that there are currently multiple transport options for both inbound and outbound shipments, and lists handling and customs facilities as "vitally important" for coordinating logistics needs during the construction and operational phases.Robin Young, chief executive of Amur Minerals, said: "Discussions have been on-going between Amur and GEFCO representatives on these considerations and the MOC represents the start of the next stage, namely, developing definitive transport and logistic solutions. It is also very important, given the complexity of global transport and logistics, that we have GEFCO providing advisory assistance in our discussions with other parties."Amur Minerals' shares were up 14.16% at 4.28p at 1552 BST.