Russian Nickel and Copper Reserve Revealed as Among the Largest in the World

By Annifer Jackson

Amur Minerals Corporation has announced that proved and probable reserves at its Russian asset at Kun-Manie have increased by 25 percent, making it one of the world’s largest nickel sulphide projects.

The nickel and copper exploration and development company revealed that the site now contains 39.2 million ore tonnes, translating to 219,000 tonnes of nickel and 58,100 tonnes of copper. There is also potential for further expansion of reserves by positive infill drilling of inferred resources.

Around 80 percent of measured and inferred resources are mineable, with by-products of palladium and platinum set to both five million tonnes.

Robin Young, CEO of Amur Minerals Corporation, commented: "Having nearly a three quarter of a billion dollar EBITDA at today's metal prices is highly encouraging and supports the Board's belief that Kun-Manie will ultimately become one of the largest nickel sulphide projects in the world.  

“In light of the fact that there are presently 70 million tonnes of inferred resource not available for inclusion in our current reserve assessment and that our historical infill drill success rate has been high, we anticipate an opportunity to take advantage of the economy of scale by increasing the annual production rate at Kun-Manie. 

“And this does not include the substantial potential to define more resources by simple step out drilling down dip and along strike where the limits of mineral are not yet identified, which we believe the future expansion of resources and reserves to be substantial."

Kun-Manie is location in Amur Oblast, in the south east of Russia. 

Share

Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy