article GBP30M investment15 Dec 2021 03:01
Terskaya Mining Company JSC (part of the Eurasia Mining PLC group with headquarters in London) initiated a project for the exploration and open pit mining of green platinum group metals and battery metals: nickel, copper and cobalt. As part of an agreement on investment activities in the Arctic zone of the Russian Federation with the Corporation for the Development of the Far East and the Arctic, the project will be implemented in the Murmansk region. The volume of capital investments will amount to 3.15 billion rubles and more than 380 new jobs will be created.
According to Konstantin Firstov, General Director of Terskaya Gornaya Kompaniya (TGC) JSC, Eurasia Mining PLC is a producer of palladium, platinum, rhodium, iridium and gold, has a portfolio for the production of "green" and "battery", has a mining license for deposits with reserves for open pit mining in the Murmansk region.
“Our company develops the Western Kytlym deposit in the Urals and is the operator of the Monchetundra project, which includes two palladium and nickel deposits located near the city of Monchegorsk on the Kola Peninsula. The advantage of the project is open pit mining at low cost and without environmental problems. The status of a resident of the Russian Arctic will give the opportunity to enjoy the benefits and administrative support provided to investors in the region, "- said Konstantin Firstov , specifying that earlier a legally binding agreement was concluded with the KRDV on assistance in the implementation of investment activities in the territory of the Russian Arctic.
“The directors are delighted to have signed a legally binding agreement with the Russian state-owned Corporation for the Development of the Far East and the Arctic, which helps secure our property rights not only through licenses, but also through all relevant land rights. The agreement with the KRDV is a critical milestone in our strategic development, both in relation to the rights to projects that belong to Eurasia, and in relation to various tax and non-tax incentives that increase the value of the company, ”says Christian Schaffalitsky, Executive Chairman of the Board of Directors of Eurasia Mining PLC .
James Newvenhays , CEO of Eurasia emphasized:
“We have crystallized our ownership of projects and enjoy full government support from both the state-owned Rosgeologia and now also from the state KRDV, subordinate to the Russian Ministry for the Development of the Russian Far East and the Plenipotentiary Representative of the President of the Russian Federation in the Far Eastern Federal District. We see significant government support for projects in the Arctic, where all the Kola projects in Eurasia are located, as well as all nine projects from our agreement with Rosgeo. The agreement with the KRDV will benefit both existing projects and joint projects with Rosgeo belonging to Eurasia and future projects that Eurasia can implement in the Arctic and the Far East. "
Tamerl