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Asiamet clears hurdle for BKM development
StockMarketWire.com
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Asiamet Resources has cleared another regulatory hurdle as it seeks to secure an Indonesian government forestry borrow-to-use (FBTU) permit for its Beruang Kanan Main (BKM) copper mine development.
In an announcement on the London Stock Exchange, Asiamet confirmed it has now secured the necessary environmental approval allowing it to proceed to the final stage of working towards the FBTU permit.
The BKM copper project is an open pit mine being developed in the north-western region of Palangkaraya, Central Kalimantan.
Tony Manini, executive chairman of Asiamet, said achieving the permitting milestones during COVID-19 has been a terrific achievement and testament to the companys local teams in Jakarta and Palangkaraya.
He added: Receiving conditional approval for the Pinjam Pakai permit is a key milestone in the development path of the BKM copper project and each interim approval is an important de-risking step in achieving that major permitting objective.
The project has an initial nine-year mine life producing up to 25,000 tonnes of copper cathode per year.
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