Russian Artic invests - popped up on ortex16 Dec 2021 13:49
SyndiGate Media Inc. - 16th Dec 03:21
Russian Federation : A new resident of the Russian Arctic invests more than 3 billion rubles in the development of nickel, copper and cobalt deposits [Al Bawaba Business]
According to Konstantin Firstov, General Director of Terskaya Gornaya Kompaniya 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. The directors are delighted to have signed a...
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 KRDV is a critical milestone in our strategic development both with regard 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 and Managing Director of Eurasia, commented: We have confirmed our rights to projects and now enjoy strong government support also from the state KRDC, which reports to the Plenipotentiary of the President of Russia in the Far East and the Arctic. Overall, this translates into strong political support from several government agencies that collectively strive for continued economic development and a stable social situation and are interested in supporting investment in the Arctic, where all Kola projects are located. The KRDV agreement will benefit both existing projects in Kola and future projects that Eurasia can implement in the Arctic.
Continued..
Sign In
Follow the stocks
