Amur Minerals Corporation (“Amur” or the “Company”) is pleased to announce the signing of a non-binding Heads of Terms Agreement (“Agreement”) with the Russian Government’s Far East and Baikal Region Development Fund (“Fund”). The Agreement expresses the intentions of the Fund and the Company to expand their collaboration on funding of the flagship Kun-Manie nickel sulphide project located in the far east of Russia.
Along with the existing mandate for fundraising from potential strategic partners in Russia, China, and India, which continues to be a cornerstone of Amur’s strategy for developing Kun-Manie, this new agreement expands the funding scope. The prospect of federal financing of overall mine, plant and smelter development will be reviewed, as well as the potential state funding of infrastructure. The Agreement provides a launching point for detailed negotiations establishing technical feasibility requirements, funding needs, terms and conditions, and timelines.