29th Feb 2016 09:58
LONDON (Alliance News) - Eurasia Mining PLC on Monday said progress has been made on the approvals process and preparations for the West Kytlim platinum project in Russia.
Eurasia said the technical design report for the diesel operation at the site has been submitted to local authorities and said contractors have now finished necessary field work on the proposed power line to the project.
The company also said it has received the topographic survey from the contracts for the next area to be mined in the region in the Kluchiki area.
"While the diesel operation is smaller scale and more expensive per tonne than electrical power, it allows us to establish operations at West Kytlim for the long term. Eurasia is aiming to establish a minimum 10 year project producing platinum," said Managing Director Christian Schaffalitzky.
Shares in Eurasia were down 7.7% to 0.6 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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