Eurasia Mining Plc is a Russia-focused mineral exploration and mining company, incorporated in England and Wales. Eurasia is publically listed on Alternative Investment Market (AIM) in London since 1996. Eurasia’s head office is in London and there are two offices in Russia.
The company’s core activity is to produce and explore for the development of platinum group metals (PGMs), gold, and other metals through its own self- financed exploration targets and strategic joint venture partnership with local operators. The company’s operations are funded by equity funds, mine revenue and funds from joint ventures. The projects are initially evaluated for its viability and once this is established further exploration work is carried out to test its feasibility. Following which, the company decides whether to proceed to develop the project or partner with worthy operator.
Eurasia’s three major mining, development and exploration projects are: Monchetunda project in Kola Peninsula, West Kytlim Mine in Ural Mountains, and Semenovsky tailings project in Bashkir. The Monchentandra project is state-approved reserve and resource for Palladium and Platinum, EPC contract and finance package is in place with Chinese group Sinosteel and the production licence is valid till 2038.
The west Kytlim Mine operates platinum group minerals and gold mine, it produces 4,477 kg raw platinum, which is sold into Ekaterinburg precious metal refinery contract and the mine is operated by its owner who pays 100% revenue to Eurasia. The Semenovsky operates as a gravity concentration plant since 1943 and processes oxide ores primarily from four local deposits. Around 3,206 kg of gold and 43.3 tonnes of silver was recovered from old mine tailings. Eurasia got maiden reserves approval on the project in mid-2016.
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