LONDON (ShareCast) - Shares in exploration and development company Amur Minerals rose a whopping 76% on Friday after the company said that Russian Prime Minister Dmitry Medvedev has approved its production license for the Kun Manie nickel-copper sulphide deposit in far eastern Russia.
Amur holds 100% of the rights and will recover nickel, copper, cobalt, platinum, palladium, and other minor minerals from the project, which has 841,000 nickel tonnes equivalent lying within the production license area.

The license marks a significant turning point for Amur, which has been exploring Kun Manie for over ten years.

Amur had placed the license application back in November 2014 and its subsidiary has now submitted a work programme which outlines the company's plan to take the project into production.

Chief executive Robin Young said: "We are pleased with the licence terms and conditions, which we agreed with the Government, and note that the authorities give considerable leeway to advance the project as quickly and efficiently as possible."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE