Asian Mineral Resources: Adjustment to Export Restrictions for Ban Phuc
Asian Mineral Resources Limited announced today that the Vietnamese Ministry of Industry and Trade (“MOIT”) has agreed, following submissions by AMR’s 90% owned subsidiary Ban Phuc Nickel Mines LLC and the Son La Peoples Committee, that exports of nickel concentrate from its Ban Phuc project will be permitted for the five year period commencing with the beginning of production. The previous approval was for the period expiring at the end of 2013.
“We are pleased that MOIT has dealt with this important issue” commented Rob Guest president of AMR ” and we look forward to similar progress in our ongoing dialogue with the authorities on other important Vietnamese issues whose resolution is critical to our being able to restart and complete the project when economic conditions including nickel price have improved sufficiently.”
Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in Vietnam 5 hours drive north-west of Hanoi in which it has a 90% interest.