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Eurasia Mining lodges mining permit application for Monchetundra Platinum Project

Mining News - Published on Thu, 07 Dec 2017

Image Source: ukinvestorshow.com
Morning Star reported that Eurasia Mining PLC has lodged a mining permit application for the Monchetundra project located on Kola Peninsula in north west Russia. The London listed platinum and gold producer said the review of the application has already begun and noted the award of the permit may take between five to 12 months following the submission.

Monchetundra is a platinum group mineral and base metals project with state approved reserves and resources of 2 million ounces platinum group mineral with additional base metal and gold credits. A discovery certificate, guaranteeing mining rights, was issued to the company in July.

Mr Christian Schaffalitzky Executive Chairman said that "We are very pleased to have submitted the Monchetundra mining license application, our second application in just over three years. We are hopeful for a reasonable processing time and have the in-house knowledge and experience to make the process as smooth as is possible."

Eurasia Mining said it also continues to make progress at its West Kytlim mine, however, production volumes are considerably less than anticipated due to modifications required to the machinery on-site. The West Kytlim mine, which is also located in Russia, is expected to temporarily close for the winter season as usual before the end of December.

Source :

Posted By : Rabi Wangkhem on Thu, 07 Dec 2017
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