Asiamet Resources Ltd, a Bermuda registered company, through its Indonesian operation subsidiary PT Kalimantan Surya Kencana (KSK), has successfully concluded the long-running negotiations with the Indonesian government to amend its existing Contract of Work (CoW) to secure long-term mining tenure.

The amendment of the contract allows the company to move ahead with the development and financing of its Beruang Kanan Main (BKM) copper project in Central Kalimantan, the company said in a statement. The company’s CoW was granted on April 28, 1997 as a 6th generation CoW.