25.8 C
Supported byspot_img

Russian federal agencies give go-ahead for second Eurasia Mining project

Member of Europium Groupspot_img
Supported byspot_img

Aim-listed platinum group metals and gold miner Eurasia Mining has received approval from the Russian Federal Securities Board and the Ministry of Defence for its Monchetundra project, in the Kola Peninsula.

The mine permit application for the two-million-ounce PGM Monchetundra project will now progress to Ministerial level, where is it reviewed by the Ministry of Economic Development and Ministry of Natural Resources, before going to the office of Prime Minister Dmitry Medvedev for final approval.

The application process remains on track for a successful grant by late summer, Eurasia reported on Wednesday.

Supported by

The Monchetundra project contains reserves and resources of two-million ounces PGM with a palladium:platinum ratio of 2:1 and an in-site value of about $2-billion.


Eurasia CEO Christian Schaffalitzky said the company is working on the technical aspects of the project’s resource and metallurgy, including ore scheduling exercises.

“Discussions are ongoing with a wide range of potential stakeholders regarding the projects route to commercial development, including continuing discussions on offtake agreements, refinery contracts, and discussion with our engineering, procurement, construction and finance partner Sinosteel.”

“The Monchetundra project is very much a focus of the company’s business, alongside the now full scale production of PGM at our West Kytlim mine, also in Russia, which is the second-largest alluvial openpit PGM mine globally,” he stated.

Source: miningweekly

Supported byElevatePR Digital

Related News

Progress at Plymouth’s tungsten mine: Final permit secured for production restart

Plymouth’s potential tungsten mine is on track to achieve significant production levels following the approval to commence operations. Tungsten West Plc has secured a...

Elementos pursues acquisition of stake in Iberian smelting for European tin market expansion

Elementos, a tin exploration and development firm, has initiated a non-binding term sheet to potentially acquire up to a 50% interest in Iberian Smelting...

EU corporate sustainability directive: Implications for global supply chains and Africa’s mining communities

On 24 May, the European Union enacted the Corporate Sustainability Due Diligence Directive (CSDDD), a landmark legislation requiring large businesses to identify and mitigate...

Rio Tinto defends environmental safety of Serbia’s Jadar lithium project

Rio Tinto announced on Thursday that it had published new environmental studies indicating the safety of its Jadar lithium project in Serbia, which was...
Supported by
Supported by
Supported by
error: Content is protected !!