35.4 C
Belgrade
Supported byspot_img
spot_img

Euroasia Mining 10y project producing platinum in Russia

Member of Europium Groupspot_img
Supported byspot_img

Eurasia Mining is aiming to establish a minimum 10 year project producing platinum in its Russia property West Kytlim project.

Russia-focused PGM explorer and developer Eurasia Mining (LON:EUA) has confirmed positive developments at its West Kytlim project.

Highlights:

Supported by

– The Technical Design Report for the diesel operation at Malaya Sosnovka has been submitted to the Ministry for Subsoil use.

– Contractors assessing the route for the proposed power line to West Kytlim have finished all necessary field work including land surveying, ecological sampling and shallow geotechnical drilling.

– The Company has now received the topographic survey from the contractors for the next area to be mined, the Kluchiki area.

The mining schedule requires a diesel powered start up phase targeting high grade reserves at surface in the Malaya Sosnovka area. The Technical Design Report mentioned above has been submitted to the relevant ministry for mine plan approval to be obtained prior to commencement of operations. Separately, a mine plan is being developed to cover development of the entire licence area using mains electrical power, which is planned to be available after construction of a power line to site. We believe the main advantage for the use of grid electrical power is clear, as the price is estimated at 5 US$ cents per KWh.

This compares with average industrial power costs in the UK of 13 US$ cents per KWh. A field assessment on the route of the power line has now been completed. Eurasia believes the advantages of electrical power will become obvious as we move towards producing from more than one site, and with the commencement of the deployment of electrically powered dragline operations. Draglines can operate 12 months of the year and will be used for overburden removal and stockpiling of mineralized material for later processing. The next area (within West Kytlim) which Eurasia will target for mining operations, the Kluchiki area, has now been surveyed in detail. We believe this will greatly assist advanced planning for the location of infrastructure including wash plants and water storage and tailings dams required for production in the second year of operations at West Kytlim

Managing director Christian Schaffalitzky said: “While the diesel operation is smaller scale and more expensive per tonne than electrical power, it allows us to establish operations at West Kytlim for the long term. Eurasia is aiming to establish a minimum 10 year project producing platinum.”

Supported byElevatePR Digital

Related News

Türkiye’s gold reserves: Potential, production goals and economic value

According to Mehmet Yılmaz, head of the Miners’ Association of Türkiye (TMD), Türkiye possesses untapped gold reserves valued at approximately $300 billion. Yılmaz stated...

Anglo-Asian Mining Plc. aims for gold, copperand silver extraction at Azerbaijan’s Gilar deposit in 2024

Anglo-Asian Mining Plc. (AAM), renowned for its expertise in gold, silver and copper extraction in Azerbaijan, is focusing on developing the Gilar deposit in...

Formula Sveta, a Russian company, eyes mining investment in Tajikistan’s Sughd region

Formula Sveta, a Russian company specializing in mining and electrical equipment, has expressed interest in investing in Tajikistan's mining sector, particularly in revitalizing the...

Tajikistan’s mining output surges by 18% in 2024 with expansion and investments

Tajikistan's mining and precious metals industry has seen substantial growth, with output increasing by over 18% in the first four months of 2024 compared...
Supported by
Supported by
Supported by
error: Content is protected !!