Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
And all for our green box friends -
"With the completion of the Monchetundra DFS, the two open pit mines, with their related plant and facilities, are ready for construction work to commence. While we have an EPCF agreement with Sinosteel in place, the Board does not believe it is appropriate to commence construction immediately due to the ongoing sale process of its Russian assets. It is expected that counterparties will have their own plans for future development, and it is important to leave such options open."
A special word for them - counterparties
It's a special word given the journey that Eurasia decided to embark on, why?, well, here -
"counterparty
noun
plural noun: counterparties
an opposite party in a contract or financial transaction."
For them to use it there has to be an opposite party in the financial transaction, absolutely marvellous, right? ;)
Lots of love and a big kiss from
MAC X
GLA
All very easily done because the H2Transition Capital founder is very much still on Eurasia's BOD -
"Since then, he founded H2Transition Capital Fund headquartered in the UK with a focus on ESG investments and in particular on hydrogen value chain projects" :
"ARTEM MATYUSHOK
Independent Non-executive Director
Artem has served in senior Mergers and Acquisitions roles with major resource companies and has amassed 20+ years’ experience in the Energy & Natural Resources sector ranging from the start-up operational environment to the corporate division of a major FTSE 100 company. Artem is PhD in Economics and CIMA (UK) qualified and is a former Shell alumni. Throughout his career he executed numerous high profile M&A transactions with total value in excess of $100bn. Since then, he founded H2Transition Capital Fund headquartered in the UK with a focus on ESG investments and in particular on hydrogen value chain projects. He continues to advise companies Board's on Energy Transition initiatives. Artem brings in-depth knowledge of the Hydrogen economy to the Company."
Location would appear to be the only real thing changing with EUA V.2.0 imho. The direction in to the Hydrogen market remains very much the same.
GLA
"Makes sense to dissolve the JV if we're not going to pursue hydrogen in Russia." - The initial JV with H4Energy yes, then set up the new business vehicle for Hydrogen outside of Russia -
"H4Energy is under management of H2Transition Capital founded by ex-Shell energy transformation team members (in alphabetic order)"
H2Transition Capital will simply create the new business vehicle for Hydrogen outside of Russia imho, then, one would assume a new JV set up for the task to replace the initial proposition and to cover the new company direction -
"In terms of the future development of Eurasia Mining PLC, we continue to look at expanding the business in various ways, including the development of hydrogen projects outside of Russia coupled with new mining opportunities in investment friendly jurisdictions. The Company remains committed to the continued sale of its assets in Russia."
GLA
Found by Richard on twitter, H4Energy (JV partner for Russian green Hydrogen and Ammonia) is being closed down -
https://twitter.com/RichardDugdale3/status/1679785162572218369?s=20
Now, this doesn't mean a new buyer is at the table as per the tweet, it simply means that H2 Transition Capital requires a new business vehicle for the planned Hydrogen outside of Russia. It is a structural change to our current JV, so, news should arrive in some form soon about the change at least -
As per our recent RNS : "In terms of the future development of Eurasia Mining PLC, we continue to look at expanding the business in various ways, including the development of hydrogen projects outside of Russia coupled with new mining opportunities in investment friendly jurisdictions. The Company remains committed to the continued sale of its assets in Russia."
See this RNS for the JV structure which is quite clearly being changed to fit the present geopolitical situation -
https://www.lse.co.uk/rns/EUA/hydrogen-and-ammonia-strategy-7govnm7zitkyfz5.html
GLA
See this RNS for the JV structure which is quite clearly being changed to fit the present geopolitical situation -
https://www.lse.co.uk/rns/EUA/hydrogen-and-ammonia-strategy-7govnm7zitkyfz5.html
GLA
Found by Richard on twitter, H4Energy (JV partner for Russian green Hydrogen and Ammonia) is being closed down -
https://twitter.com/RichardDugdale3/status/1679785162572218369?s=20
Now, this doesn't mean a new buyer is at the table as per the tweet, it simply means that H2 Transition Capital requires a new business vehicle for the planned Hydrogen outside of Russia. It is a structural change to our current JV, so, news should arrive in some form soon about the change at least -
As per our recent RNS : "In terms of the future development of Eurasia Mining PLC, we continue to look at expanding the business in various ways, including the development of hydrogen projects outside of Russia coupled with new mining opportunities in investment friendly jurisdictions. The Company remains committed to the continued sale of its assets in Russia."
GLA
Indeed Broxburn68, it's more of a pointing out as to the level these guys are at. They're not like these green boxes who sit around all day in their Y fronts talking garbage, these guys are the industry, the go to guys when large industrial changes are needed. They're all top level experts and highly connected people.
It's not a small industrial change that has been embarked on, it's the entire energy landscape as we once knew it.
GLA
It's the 'A' team for the switch which has been set up, you merely have to dig a little deeper in to everything that gets released in RNS to fully understand -
"Richard has built a portfolio of global advisory positions for Boards and C-Suite Executives in the Downstream Oil, Chemicals and energy intensive industries focusing on strategy and corporate transformations ahead of the Energy Transition. He is the Executive Chairman of H2Transition Capital LLP an emerging global fund focused on developing, managing and investing in the hydrogen value chain. In addition Richard is a non-executive director of Boson Energy (a waste to energy/hydrogen firm) and Firmus Energy a gas distribution company in Northern Ireland. He is the Chair of the Energy Transition Group of the Institute of Materials, Minerals and Mining (where he also a Fellow), a Fellow of the Energy Institute, a member of Chatham House (Royal Institute of International Affairs) and a member of Chapter Zero (a community of non-executive directors who understand and can position the Energy Transition with their board colleagues).
During his industrial career Richard lived and worked in the UK, Luxembourg, Japan, Singapore and the USA. He has managed businesses, a JV, a technology group, a manufacturing site and been involved in sales & marketing, strategy both at the corporate and business level at The Goodyear Tire & Rubber Co. for 14 years and then various companies of the Royal Dutch Shell Group for 25 years. He has held a variety of Non-Executive Directorships including most recently on the Board of Vivo Energy and Shell Vivo Lubricants with businesses in 15 African countries (2014 - 2017) and previously Shell Oil Products Company LLC, Equilon Enterprises LLC, Pennzoil-Quaker State Company and various other USA companies of the Royal Dutch Shell Group (2010 - 2013) plus various companies throughout Asia (2004 through 2007). A common theme during my career has been my leadership of M&A activities. Richard was accountable for over 50 transactions from $10mln to $10bln+ with different counter party types (major corporations, small businesses, family companies and private equity firms) and in multiple countries & cultures (US, Canada, Mexico, Argentina, Brazil, Chile, the Caribbean, Germany, France, The Netherlands, Switzerland, Italy, Russia, Czech Republic, Egypt, Japan, Australia, India, Malaysia, China and the Middle East)."
https://www.linkedin.com/in/richard-m-oblath-phd-ceng-fimmm-fei-090ab924/?originalSubdomain=uk
These guys are all highly connected and at the top of their chosen professions!
GLA
It's not that much of a biggy tbh -
"· All ongoing operation costs in respect of the Aftan business have been borne by Xinjian since the beginning of 2023"
They're paying to run the business while they make their payments.
GLA
Yes Jarv, they've very much still got their Hydrogen plans in place, location may well be the only real thing which has possibly changed -
"In terms of the future development of Eurasia Mining PLC, we continue to look at expanding the business in various ways, including the development of hydrogen projects outside of Russia coupled with new mining opportunities in investment friendly jurisdictions. The Company remains committed to the continued sale of its assets in Russia."
This man will set all of the Hydrogen up, another person at the very top of their profession -
"ARTEM MATYUSHOK
Independent Non-executive Director
Artem has served in senior Mergers and Acquisitions roles with major resource companies and has amassed 20+ years’ experience in the Energy & Natural Resources sector ranging from the start-up operational environment to the corporate division of a major FTSE 100 company. Artem is PhD in Economics and CIMA (UK) qualified and is a former Shell alumni. Throughout his career he executed numerous high profile M&A transactions with total value in excess of $100bn. Since then, he founded H2Transition Capital Fund headquartered in the UK with a focus on ESG investments and in particular on hydrogen value chain projects. He continues to advise companies Board's on Energy Transition initiatives. Artem brings in-depth knowledge of the Hydrogen economy to the Company."
I'm excited to see exactly what they come up with now that the DFS is out of the way, it can only be a matter of time before we all hear the new plans imho
GLA
By the way, is this area that now appears as a mining area at Monchetundra new? -
https://apps.sentinel-hub.com/sentinel-playground/?source=S2L2A&lat=67.86327866206459&lng=32.762603759765625&zoom=15&preset=1_TRUE_COLOR&layers=B01,B02,B03&maxcc=20&gain=1.0&gamma=1.0&time=2023-01-01%7C2023-07-10&atmFilter=&showDates=false
I can't remember ever seeing it before.
GLA
The last reply holds true no matter which company extracts the metals from the open pits and feeds the Monchegorsk facility.
Eurasia's assets that are being sold is simply one small part of a far larger picture.
Now, look at the green theme at Monchegorsk and the gov being fully on board, then understand who this guy is -
"In parallel, the project manager in Kola, Konstantin Firstov, is taking on additional responsibilities in accepting the appointment as Country Manager. Konstantin will have oversight of the ongoing discussions regarding the sale process."
-
"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.
Terskaya holds the Monchetundra and Monchetundra flanks licences..
Firstov is an experienced mining engineer who previously worked as the head of open pit mining at Achinsk, the largest operation of Rusal, a leading company in the global aluminium industry."
-
"RosGeo is a fully state-owned company."
https://rusgeology.ru/en/press/news/rosgeologiya-and-eurasia-mining-implement-joint-projects-on-the-kola-peninsula/
GLA
They're setting their site up ready at Monchegorsk in any case Iknownuffin. The green theme running throughout everyone's plans there. Can you remember Eurasia's Hydrogen mining vehicle plans? -
"highly efficient and green production capacities to the market and unlocking industrial and human potential."
Once the metals are tokenised they can be tracked straight back to the green production facilities at Monchegorsk. They're building the entire network to feed the green industrial revolution the metals that are required.
GLA
"DECEMBER 22, 2022 16:23
A hostel for 800 people was opened in Monchegorsk
For several months, a major overhaul was carried out in a four-story building on the street of the 10th Guards Division in Monchegorsk. Now employees of contractors involved in the facilities of the Kola MMC will live here."
https://kn51.ru/2022/12/22/v-monchegorske-otkryli-hostel-na-800-mest/
Checkpoint right next to NYUD, strange that isn't it -
"An additional checkpoint will appear at the Monchegorsk site of the Kola MMC
The construction of the checkpoint at Nizhny Nyuda is intended to relieve the main logistics schemes on the company's territory. The section of the road leading to the new facility will be asphalted."
https://kn51.ru/2022/04/28/na-monchegorskoj-ploshhadke-kolskoj-gmk-poyavitsya-dopolnitelnyj-kontrolno-propusknoj-punkt/
GLA
Very nice spot Jarv55. Interesting timing also.
They're making a lot of large moves over recent years -
MURMANSK, July 19. /TASS/. The Norilsk Nickel Company (Nornickel) will invest in construction of a copper plant in the Murmansk Region’s Monchegorsk 106 billion rubles ($1.43 billion), the regional information policy authority told TASS.
https://tass.com/economy/1315319
"The document highlights the importance of boosting investment to drive sustainable economic growth in the Murmansk Region, as well as the need to build a favourable financial and administrative environment for business development. It also emphasises the significance of joint work between the public sector and major businesses in bringing new, highly efficient and green production capacities to the market and unlocking industrial and human potential."
https://uk.sports.yahoo.com/news/nornickel-expands-partnership-murmansk-region-091111048.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAL7qfJWa0MdYE6Wox5Fyl2XqJh3fomWdLN8hpoiNoacluy0i7M9rL8bnQ7ANvCoe0tseLEDeYXnv63JQaw1H9VuV5C3LmL87BpzonQVJoMLngQWi7KeKIVamZ_gMRyU3FcV7UTAQJnweHt3H41OblW0j8m1DR9G3AcBoOyLNuFgv
GLA