Asiamet receives independent technical report, moves to formal financing for BKM
Asiamet Resources () has received the final completed Independent Technical Expert Report on the optimised feasibility study for its BKM copper project in Indonesia.
The completion of this report is a key technical input required for the project financing lender due diligence process.
With all technical workstreams now complete, Asiamet is preparing to initiate formal project financing engagement with lenders and intends to confirm the commencement of this process shortly.
The ITE review was undertaken by Behre Dolbear, a global mineral industry consulting group, specialising in independent due diligence reviews.
The ITE review commenced in December 2024 and included site visits in December 2024 and January 2025. The review was conducted in parallel with the finalisation of the feasibility study over a period of five-months.
Stage 1 of BKM Stage 1 will be a simplified copper heap leach project targeting near-surface, higher soluble copper material. It is expected to produce approximately 10,000 tonnes per annum of LME grade A copper cathode, providing the foundation for development of the broader KSK contract of work.
"Receiving the final ITE Report so soon after the release of the BKM Stage 1 feasibility study marks a major milestone for Asiamet and reflects the high level of engagement with the ITE over the last five months to bring this work to completion,” said Darryn McClelland, Asiamet's chief executive.
“The ITE's ongoing input, particularly around lender expectations has been instrumental in shaping a study that supports a smooth transition into the project financing phase. This rapid turnaround enables us to move confidently toward the project financing phase with a de-risked, development-ready project designed to deliver approximately 10,000 tonnes of copper cathode per year, underpinned by a high-quality, lender-aligned feasibility study.”
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Asiamet is now preparing to open a data room and expects to begin formal engagement with project finance lenders shortly. The company is also receiving interest from strategic investors. It’s not a bad time to be developing a copper project, and all the key constituents are in place at BKM.
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