from the tass news site28 Mar 2021 14:47
MAR 27, 11:51
Eurasia Mining buys 75% in Rosgeologia's subsidiary in the Murmansk region for $ 500,000.
As the head of Rosgeology Sergei Gorkov noted, the conclusion of the agreement creates significant potential for increasing the commercial contract base for geological exploration for the divisions of the north-western division of the holding
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MOSCOW, March 27. / TASS /. Eurasia Mining acquires 75% in a subsidiary of Rosgeologia to implement joint projects for platinum group metals, copper, nickel and cobalt in the Murmansk region. This is stated in the message of "Rosgeologia".
Under the terms of the agreement, within the framework of the pilot project, Eurasia Mining acquires a 75% stake in a junior company, which is part of the Rosgeologia holding, for $ 500,000. Eurasia Mining will carry out operational management of the joint venture and the project, and will also receive call options for the redemption the remaining shares of Rosgeologia in the joint venture after reserves have been calculated in accordance with international JORC standards. Rosgeologia, in turn, will conduct geological exploration and provide geological consulting services.
According to the head of Rosgeology, Sergei Gorkov, whose words are quoted in the message, the conclusion of an agreement with Eurasia Mining creates significant potential for increasing the commercial contract base for exploration for the units of the north-western division of Rosgeology.
Eurasia Mining is a palladium, platinum, rhodium, iridium and gold mining company. Manages the Western Kytlym field located in the Urals, is the operator of the Monchetundra project, which includes two palladium open-pit mining sites near the city of Monchegorsk on the Kola Peninsula.
Rosgeologia is a Russian diversified geological holding that provides a full range of services related to geological exploration. 100% of Rosgeologia's shares are owned by the state.
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