21st Apr 2015 12:59
LONDON (Alliance News) - Eurasia Mining PLC Tuesday said the Russian Ministry of Economic Development has requested further information following on from the company's application for a mining license for the West Kytlim alluvial platinum mining project.
In March, Eurasia said Russian state mining agency Rosnedra had compiled the draft terms and conditions for the mining licence, which was submitted to the Russian Ministry of Economic Development. Eurasia has been working with the agency to coordinate the mining licence application process.
However, on Tuesday, Eurasia said the Ministry has asked Rosendra to supply certain additional information to enable the Ministry to complete its work. The Ministry has asked for information related to original paper documents to validate items within the initial submission, said the company.
"In line with the progression of our Mining Licence through the final stages of the standard application process we are gearing up our preparedness so we can execute swiftly on our operational plans, implementation of which naturally remains subject to receipt of final approvals from the authorities," said Eurasia Chief Executive Christian Schaffalitzky.
Eurasia shares were down 0.7% to 0.770 pence per share on Tuesday afternoon.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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