Asiamet Resources Ltd on Friday said it had signed a memorandum of understanding with BGRIMM Technology Group for engineering at its BKM Copper project.

Asiamet is an Indonesia-based mining company. Its wholly-owned flagship licence is the BKM Copper project, located north-west of Palangkaraya, the regional capital of Central Kalimantan.

The company said the agreement is in relation to the engineering and procurement of the solvent extraction and electrowinning plant for the processing facility at the BKM project.

BGRIMM will provide design information for equipment packages it has given cost estimates for as part of the BKM project’s feasibility study update, as well as a detailed cost estimate for engineering, procurement and construction work on the SX-EW processing plant.

Following the feasibility study update and a positive investment decision by Asiamet, the company said it will ‘engage with BGRIMM on the provision of a complete Engineering & Procurement service contract for the BKM Copper Project SX-EW plant,’ including the supply of all necessary equipment for the plant.

Chief Execuitve Officer Darryn McClelland said: ‘Asiamet looks forward to developing a strong working relationship with BGRIMM through involvement in the development of the BKM Copper project, along with future development opportunities that are likely to arise from the broader KSK Contract of Work.’

Asiamet shares were up 6.5% trading at 1.23 pence per share on Friday morning in London.

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