Amur Minerals jumps on hopes of project approval in Russia

Amur Minerals Corporation's shares rocketed Friday after the nickel-copper sulphide miner announced progress on its Kun-Manie project in Blagoveshchensk, Russia.

Amur Minerals Corporation's shares rocketed Friday after the nickel-copper sulphide miner announced progress on its Kun-Manie project in Blagoveshchensk, Russia.

The company said the application for its mining licence is under review by the Ministry of Natural Resources.

Approvals from the Ministry of Defence and the Federal Security are in hand and a report from the Federal Antimonopoly Service has been received.

Shares jumped 18.44% to 8.35p at 11:04 following the announcement.

"We are pleased to inform our shareholders that the application for the mining licence is progressing through the newly implemented system," said Chief Executive Officer, Robin Young.

"We shall be updating the market as the licence advances through the approval process. The board remains confident that we will obtain the approved mining licence."

RD

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