18th Mar 2015 09:27
LONDON (Alliance News) - Russian platinum miner Eurasia Mining PLC on Wednesday said it has made further progress on securing the mining licence for the West Kytlim alluvial platinum project.
Eurasia said Russian state mining agency Rosnedra has confirmed it has compiled the draft terms and conditions for the mining licence.
The next stage of the licence has been submitted to the Russian Ministry of Economic Development, which has 30 days to respond on economic considerations, Eurasia said.
Following the ministry's review of the licence, the final stage will be an overview by the Russian Prime Minister's office, it said.
"Following on from our 25 February 2015 update we are pleased, once again, to report expeditious progress by our Russian team and the state mining agency Rosnedra, in the preparation of the mining licence terms and conditions, along with delivery of documentation to the MED," said Eurasia Chief Executive Christian Schaffalitzky.
Eurasia shares were up 8.9% to 0.735 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Eurasia Mining