Business
Binding Agreement Signed with ERDC
Binding Agreement Signed with ERDC.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7421U\n Eurasia Mining PLC\n 06 December 2021\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN EU REGULATION NO. 596/2014 \n \n \n (AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018)\n \n \n AND IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT REGULATION.\n \n \n \n \n \n \n \n \n \n \n \n \n 6 December 2021\n \n \n \n \n \n \n \n \n \n \n \n Eurasia Mining Plc\n \n \n \n \n \n Binding Agreement Signed with ERDC\n \n \n \n \n \n Eurasia Mining Plc (\"Eurasia\" or the \"Company\"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that the Company's Kola subsidiary has signed a legally binding cooperation agreement (\"ERDC Agreement\") with the Russian state owned Far East and Arctic Region Development Corporation (\"ERDC\") which falls under the remit of the Russian Ministry for the Development of the Far East and Arctic. Establishing cooperation with ERDC with regard to all Eurasia's projects in the Kola Peninsula (\"Kola\") will allow Eurasia (whilst current majority owner of its Kola subsidiaries) to obtain further state support and various tax and non-tax benefits for both Eurasia's own projects and all the projects included in the agreement between the Company and Rosgeo (collectively \"Kola Projects\").\n \n \n \n \n \n Due to their location in the Arctic Zone of the Russian Federation, the Kola Projects have been included in and will be significantly enhanced by the ERDC Agreement.\n \n \n \n \n \n Impact of the ERDC Agreement on the Company\n \n \n \n \n \n In accordance with the Russian Federal Law No. 193 of 13 July 2020 \"On State Support of Business in the Arctic Zone of the Russian Federation\" (\"Law 193\"), Kola being a part of the Murmansk Region, was included in the Arctic Zone of the Russian Federation (\"Arctic\"). Investor support in the Arctic is granted and managed through ERDC and the management company \"The Capital of Arctic LLC\",...