Mining Licence Update - MED Approval

RNS Number : 7103L

Eurasia Mining PLC

29 April 2015

 



Eurasia Mining Plc

("Eurasia" or the "Company")

Mining Licence Update - Ministry of Economic Development Approval

Eurasia Mining plc, the Russia focused PGM Exploration and Development Company is pleased to announce Ministry of Economic Development ('MED') approval for its mining licence application at the West Kytlim Project in the Central Urals.

As announced on 21 April 2015 the MED had requested from Rosnedra certain original copy documentation from Eurasia which was immediately provided. The MED then reassessed the Eurasia Mining Licence application, including the additional documentation provided.

Rosnedra have now received written confirmation of the approval from the MED of Eurasia's application.  As a result Rosnedra now have all the necessary information and approvals to compile the mining licence on behalf of its parent organisation the Ministry of Natural Resources ('MNR').

Subsequent to a final compilation, the MNR will forward the application to the offices of Prime Minister Dmitry Medvedev for final approval. A further announcement will follow in due course.

Christian Schaffalitzky, CEO of Eurasia Mining comments: ' We are again impressed at the consistent progress achieved in furthering our licence application through the relevant Russian ministries. This is a particularly significant event as it marks a milestone in the close working relationship developed between Eurasia and Rosnedra who have managed very effectively the licence application on our behalf.  It is also significant in that it marks an end to the period of detailed and technical scrutiny of our licence application. 

We are also pleased to confirm we have further accelerated our preparatory work with regard to ground operations at West Kytlim, to ensure we are ready to deliver on our promise to commence platinum mining operations as soon as practicable after the issue of the final mining licence.  We will be providing a further update with regard to these preparatory measures shortly."

Enquiries:

Eurasia Mining Plc

Christian Schaffalitzky/Michael de Villiers

[phone]

WH Ireland Limited

Katy Mitchell/Liam Gribben

[phone]

Beaufort Securities

Elliot Hance

[phone]

 

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