Robin Young, CEO of Amur Minerals Corporation LON:AMC, commented: “We look forward to working with the Far East Investment and Export Agency. The Agency’s direct focus on structuring financial participation and / or potential partnerships will provide additional alternatives and opportunities in the development of Amur’s Kun-Manie nickel project.
“We are pleased that Mr. Shelakhaev is the lead of the newly created Agency and that he is already highly familiar with our project from his time at the Far East and Baikal Regional Development Fund. The creation of this Agency by the Russian government further illustrates its dedication to assisting in the development of large scale projects within the Far East. The development of Kun-Manie is anticipated to create employment, infrastructure development and add to the economic expansion of the Far East.”
Amur Minerals Corporation LON:AMC, the Russian Far East nickel copper sulphide explorer, has talked to DirectorsTalk about the signing of a Financial Advisory Agreement with the Far East Investment and Export Agency.
Today’s Agreement enables Amur to work in partnership with the Agency, newly established by Russian Government, in attracting financing from within the Russian Federation, Republic of India and the People’s Republic of China. This addition to the existing team of advisors continues to provide the Company with a global reach to fund and develop the Kun-Manie project.
The newly created FEIE directly reports to the Far East Development Ministry, and is responsible for attracting foreign investment to stimulate continued economic growth in the country, which is rich in natural resources and is key to the government’s on-going development plan. Amur’s Kun-Manie project is located in the Amur Oblast, which is part of the Russian Far East and borders China.
The Company’s relationship with the Far East Development Fund (“FEDF”), with whom Amur previously signed an advisory mandate, will continue. By creation of FEIE, FEDF can focus on its core objective of infrastructure development while the FEIE will perform an investment banking function. Amur will work closely with both agencies as it develops the Kun-Manie project.
Previous areas of cooperation with FEDF remain under active consideration, including the Heads of Terms agreement announced on 4 March 2016. The Heads of Terms agreement broadened the scope of potential FEDF participation in the development of the Kun-Manie project beyond infrastructure support and includes the potential to support engineering study work.
FEIE is run by Mr. Petr Shelakhaev, formerly a director at FEDF. Mr. Shelakhaev possesses a full working knowledge of Amur and the Kun-Manie project, having worked closely with the Company over the past year. He brings international investment banking experience to FEIE. Amur looks forward to a fruitful collaboration.
Petr Shelakhaev, CEO of Far East Investment and Export Agency, commented: “Bringing new investments in the Russian Far East, which has been until now a highly underestimated destination for investors, is the key mission of The Far East Investment and Export Agency. The Agency was established in order to promote investment in Russia’s Far East region and support local projects by attracting strategic investors.
“We will use our core investment banking experience and wide investor network to provide the development of Amur’s Kun-Manie nickel project with necessary capital. We consider this project as one of the most promising for the social and economic development of the Russian Far East. To find investors the Agency in alliance with the Far East Development Fund will leverage its business relations with the largest investors and trading companies in Russia, India and China.”
