Business
Approval of Monchetundra Mine Permit Application
Approval of Monchetundra Mine Permit Application.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \nRNS Number : 2207U Eurasia Mining PLC 11 July 2018 \n\nEurasia Mining plc (AIM: EUA)\n(\"Eurasia\" or the \"Company\")\n \nMNR approval of Monchetundra Mine permit application\n \nEurasia Mining plc (AIM: EUA), PGM and gold producing company is pleased to announce that the Ministry of Natural Resources (\"MNR\") has approved the Company's application for a Mining permit at Monchetundra and has now delivered the mine permit application to the office of Prime Minister Dmitry Medvedev for final authorisation. \nThe MNR approval was the final relevant Russian agency approval required for the Mining permit application. All necessary documentation with regard to the projects technical, financial and operational features has been received and accepted by the MNR and forwarded to the Prime Minister's office. The office of the prime minister will now make a final decision on whether to authorise and finally grant the mining permit, and there can at this point be no guarantee that the mining permit will be granted. \n Highlights\n· Ministry of Natural Resources, the parent organisation to Rosnedra, the federal subsoil licensing agency, has approved the mine permit application for the Monchetundra Project\n· Mine permit now with the office of the Prime Minister for final approval\n· Final notice of the approval of the Mining permit application, should approval be given, may be given publicly and without prior notice to the company or its representatives.\n \nChristian Schaffalitzky, Managing Director for Eurasia, commented: \"We are delighted to have now reached the final step in this process which commenced on submission of the mine permit application in December 2017. Our experience with the West Kytlim mine permit application is that this final approval can arrive without notice and soon after submission, in the case of West Kytlim in less than three weeks.\"\n \n \nFurther details on the Monchetundra Project\nMonchetundra is Eurasia's 80% owned 2 million-ounce PGM (Reserve + Resource) project near the town of Monchegorsk on Kola Peninsula. A feasibility study and reserves estimate for the contained reserves and resources achieved state approvals in May 2017 (see announcement dated 31 May 2017). Subsequently, a discovery cert...