(Alliance News) - Asiamet Resources on Monday announced it has received approval for an environmental permit for the BKM copper project development in central Kalimantan, Indonesia.
The copper and gold miner said this allows the project to proceed to the final step to secure a forestry borrow-to-use permit, also known as a Pinjam Pakai permit, for the BKM project from the Indonesian government. Once this is approved, development and construction can commence.
Asiamet Resources said the Pinjam Pakai permit approval will be conditional upon fulfilment of several requirements from the Indonesian Ministry of Environment & Forestry, including surveys for rehabilitation, finalisation of a reclamation bond, a memorandum of understanding with forestry concession holders, boundary tagging of the borrow-to-use area and supporting facilities, and a timber utilisation permit.
Executive Chair Tony Manini said: "Achieving these important permitting milestones during Covid-19 where we have had considerable restrictions in the movement of personnel and government officials is a terrific achievement by our local teams in Jakarta and Palangkaraya. 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 for the project."
Shares in Asiamet Resources were down 5.1% at 5.17 pence in London on Monday.
By Zoe Wickens; zoewickens@alliancenews.com
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Asiamet Res (ARS)