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Asiamet receives key permit for BKM copper project

By Josh White

Date: Wednesday 17 Jul 2019

Asiamet receives key permit for BKM copper project

(Sharecast News) - Asiamet Resources announced the receipt of a key permit for its 100%-owned BKM copper project in Central Kalimantan, Indonesia on Wednesday.
The AIM-traded company said the environmental permit, issued by the provincial government of Central Kalimantan, would allow it to proceed with the development of the BKM project mine and infrastructure including supporting activities, through to closure of operations.

It described it as a "significant milestone" for the firm, as it represented "many months" of work.

Specifically, the permit was granted for the entire KSK contract of work, covering 39,443 hectares, and allowed Asiamet to undertake activities for a number of work phases.

Those phases included pre-construction, including exploration, general use of land and public consultation, as well as construction, including mobilisation and demobilisation of equipment, undertaking necessary clearing land for the construction of the mine and supporting infrastructure, the construction and improvement of roads where required, and the employment of an operational workforce.

It would also be permitted to undertake the operations phase, including the stripping off of top soil, drilling and blasting activities, loading and hauling including mining activities to extract copper ore, the processing of ore including all leaching activities, and the transport of finished goods, followed by the post-operations phase, including the demobilisation of equipment, the demobilisation of infrastructure as required and reclamation activities.

The board said the permitting process in Indonesia was "well-structured and systematic", similar to other established mining jurisdictions globally, with its in-country team having worked with various government departments to secure all major approvals required to date.

It said the next major regulatory milestone required for the start of project development was the receipt of the Pinjam Pakai or 'borrow and use' permit from the Government of Indonesia Forestry Department.

Work was now underway to secure a number of the sub-permits required to fulfil the requirements of the Pinjam Pakai.

Through the support of its community development fund 'Yayasan Tambuhak Sinta', Asiamet said it had maintained "excellent" relationships and strong local community support for the KSK project, which it described as a critical element to successfully advancing through the permitting regime.

"Following completion of the BKM Feasibility Study, Asiamet continues to focus on assessing each of the value enhancement opportunities identified in the BFS, further de-risking the BKM project through completion of the remaining permitting milestones, and advancing a range of funding options for ongoing development of both the BKM project and the company's high quality copper, gold and polymetallic base metals project portfolio," said Asiamet chief executive officer Peter Bird.

"The timely receipt of the Environmental Permit from the Central Kalimantan provincial government is another significant permitting milestone for the company and testament to the ability of our Indonesian team to systematically work with the various regulatory authorities to meet governmental requirements and deliver the permits required to commence development of the BKM."

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