- Eurasia Mining commissions three plants at West Kytlim
- The palladium price went on a tear in October, but who stands to gain and will the price strength continue?
- Eurasia Mining’s Dmitry Suschov discusses ‘strategic options’ for its mining assets
Quick facts: Eurasia Mining PLC
Eurasia Mining PLC is an international mining and mineral exploration company, focused on Russia.
The company’s stated objective is to produce and explore for platinum group metals (PGMs) and gold through self-funded exploration targets and joint venture partnerships with strategic operators and local partners.
Projects are subject to an initial evaluation for viability and once this is established further exploration work is carried out to feasibility study level. It is then the company’s intention to either proceed to develop the project to production or partner the project with a suitable operator.
11 Aug 2021
(, ) has announced that three plants have now been successfully commissioned at West Kytlim.
The miner said that the first plant is located on the border of Klyuchiki area and Bolshaya Sosnovka area to process the material mined from both these areas, while the second and the third plants are located on the border of Malaya Sosnovka and Bolshaya Sosnovka areas to process material mined from Bolshaya Sosnovka.
The electricity powerline project is progressing on schedule and the firm is comparing several options to acquire an electric dragline, which would significantly increase the mining capacity and to replace diesel with grid electricity for processing and ancillary activities.
This is part of the AIM-listed company’s effort to improve its ESG commitments.
27 Jul 2021
(, ) has appointed a new chief executive of its subsidiary companies in the Kola Peninsula of Russia.
Konstantin Firstov, former Managing Director of Rosgeo has been appointed as chief executive of the 100% subsidiary Yuksporskaya Mining Company, and as chief executive of the 80% subsidiary Terskaya Mining Company.
15 Jun 2021
() is proceeding with its plans to create a series of joint venture companies with partner Rosgeo.
On 26 March 2021, Eurasia signed a binding agreement to create a joint venture with Rosgeo in which Eurasia will own a 75% equity stake in nine platinum group metal and battery metals assets, four of which are post the Russian feasibility study stage, and which have state approved reserves.
13 Nov 2019
The apparently inexorable rise in the palladium price came to a halt in the second week of November, after peaking at a record 1,804 per ounce on 28 October. Since then, the metal has given up more than US$100 per ounce, although analysts are divided as to where it will go next.
Most chartists seem to see a bullish trend developing, whereas those looking at market fundamentals continue to remain bullish.
30 Oct 2019
Eurasia Mining’s () Dmitry Suschov speak to Proactive London’s Andrew Scott followingn the news they’ve engaged two banks as they consider the ‘strategic options’ for its Kola and Urals mining assets .
He says VTB, an arm of Russia’s VTB Group, and CITIC, which is owned by the Chinese government have already started assessing potential plans.
He says the Banks have agreed to work on a success fee basis, so that their motivation is directly linked to a successful completion of an asset transaction.
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