RE: EUA Motley fool.18 Jan 2022 14:06
The Barents Observer - December 2021 - Credible unlike the MFOOL
Bolstered by battery boom, mining company eyes 9 new open pits in Kola Peninsula
Eurasian Mining Plc teams up with state company Rosgeo for the development of a new far northern 'global center' for mining of metals. The new mines will be located on vulnerable Arctic lands near a nature reserve.
fter more than a decade of planning, the UK-based company now looks set to kick off the development of large metals resources of its Monchetundra licenses. In March this year year, the company joined forces with state enterprise Rosgeo to prepare the ground for extraction and processing of nickel, cobalt and copper.
The area has the potential to become “a new global center for platinum metals,” the companies explain. The Monchetundra is a mountain range located on the western side of the Imandra Lake near the city of Monchegorsk. On the eastern side of the lake is the Khibiny nature reserve.
Monchegorsk is from before a heavily industrialised town managed by mining and metallurgy company Nornickel.
The Monchetundra is located in the central part of the Kola Peninsula, near Monchegorsk.
In mid-December, the two companies’ joint venture Terskaya Ore Company signed an agreement with the Development Corporation for the Far East and Arctic, a state business development agency under the Ministry of the Far East and Arctic. According to the company, up to 3,15 billion rubles (€37.7 million) of investments are now underway, and more than 380 new jobs will be created.
Sign In
Follow the stocks
