COPPER

Asiamet makes permitting progress at BKM

Indonesia-focused junior Asiamet Resources is making headway on permitting for its BKM copper project, after the local government recommended that the development should proceed.

Staff reporter
Asiamet's BKM copper project is located in central Kalimantan, Indonesia

Asiamet's BKM copper project is located in central Kalimantan, Indonesia

Asiamet said approval from the governor of Central Kalimantan was an important step towards securing the forestry borrow-to-use permit it needs from Jakarta.

Asiamet's executive chairman, Tony Manini, said the governor's recommendation was "very timely and while the value of this work is often under-estimated, the receipt of key approvals and permits serves to significantly de-risk and add substantial value to the project".

Asiamet's next permitting steps entail negotiating road access with forestry concession holders and getting its environmental impact assessment rubber stamped.

Shares in AIM-listed Asiamet jumped 27% from Thursday's closing price at market opening on Friday, before retracing over the course of the morning to settle at just under 2.7p. This represents an increase of over 200% since mid-March, when the shares were valued as little as 0.85p.

Manini told Mining Journal in mid-April the company was on the verge of securing a partner for BKM.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.