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AMR Launches Strategic Review for Ban Phuc Nickel Mine in Vietnam
Oct. 20, 2017 08:35AM PST
Base Metals Investing Asian Mineral Resources (“AMR” or the “Company”) (TSXV:ASN) today announces that its Board of Directors (the “Board”) has initiated a strategic review process to explore its options with regard to the Ban Phuc Nickel Mine in Vietnam with the goal of enhancing shareholder value. Through its 90%-owned Ban Phuc Nickel Mines (“BPNM”) subsidiary in Vietnam, …
Asian Mineral Resources (“AMR” or the “Company”) (TSXV:ASN) today announces that its Board of Directors (the “Board”) has initiated a strategic review process to explore its options with regard to the Ban Phuc Nickel Mine in Vietnam with the goal of enhancing shareholder value.
Through its 90%-owned Ban Phuc Nickel Mines (“BPNM”) subsidiary in Vietnam, AMR holds an attractive tenement package of 150km2, including 49.7km2 of exploration licenses, which contains the Ban Phuc nickel, copper, and cobalt sulphide deposit, mine, and processing centre.
The Ban Phuc deposit generated annual production of up to 10,000 tonnes of nickel in concentrate and was mined from 2013 until late 2016, when operations were placed into a care and maintenance status due to low nickel prices.
Since then, AMR has been focused on near and mid-term growth opportunities to increase shareholder value.