Shareholders of Amur Minerals approved the sale of the Kuhn-Manye project in the Amur Region

Amur Minerals shareholders approved the sale of the Kuhn-Manye nickel-polymetallic project in the Amur Region to Bering Metals LLC, controlled by Vladislav Sviblov. The transaction amount will be $35 million. The money will be paid immediately after its closing.

As stated in the message of the company, an excerpt from which leads Interfax, almost 94% of the shareholders who took part in the meeting voted for the deal, with a turnout of less than 21%. Previously reportedthat Mr. Sviblov’s company would pay $105 million for this project, but the payment was supposed to be paid in installments over several years. Now the deal must be approved by the Federal Antimonopoly Service of Russia and the government commission on foreign investment.

The British company Amur Minerals is engaged in exploration in the Far East of the Russian Federation. Kuhn Manie is the company’s flagship project, its resources are estimated at 1.58 million tons in nickel equivalent. The market value of the project was estimated at $106-131 million.

Mr. Sviblov bought Highland Gold in 2020. In the summer of 2022, he also bought out the Russian assets of the Kinross group.

Maria Fedotova