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Monchetundra Update Sinosteel EPC Q1 2019
Monchetundra Update Sinosteel EPC Q1 2019.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \nRNS Number : 0459U Eurasia Mining PLC 26 March 2019 \n\nEurasia Mining plc (AIM:EUA)\n (\"Eurasia\" or the \"Company\")\nMonchetundra Update Sinosteel EPC Q1 2019\n \nEurasia Mining PLC, the palladium, platinum, rhodium and gold producing company, is pleased to provide an update on developments at the Monchetundra Project in the first quarter of 2019. Eurasia is developing its Monchetundra Project towards production following the issue of a mining permit for circa 2Moz (2PGE + Gold) deposit in November 2018. An Engineering, Procurement and Construction (EPC) contract, with an associated mine finance package has been signed with Chinese company Sinosteel. Discussions between the parties have been ongoing since issue of the mining permit, as the project is progressed towards the production stage. \nHighlights:\n- Award of the Detailed Project Documentation contract to Central Kola Expedition \"CKE\" (www.ngu.no/Kola/cke.html) who have already successfully developed the Monchetundra Feasibility Study and Monchetundra Ecology Report. CKE has an extensive track record in working with companies such as Norilsk Nickel, Severstal/Nordgold, Fosagro, B2Gold and Barrick. \n- Sinosteel advised Eurasia that it is prepared to work in close co-operation with CKE towards commencement of the EPC contract and the expected associated financing.\n- Land Surveying to mineable detail to commence immediately.\n- Evaluation of surrounding 'Flanks' to the deposits at Monchetundra as potential new development licenses is already underway - license applications to be made in due course. \nFollowing a meeting between the parties Sinosteel made the following statement: \"We are delighted that Terskaya Mining Company controlled by Eurasia Mining Plc has received the final mining permit for the Monchetundra project. We look forward to working with CKE, TGK and Eurasia, to commence the EPC and develop the mine and plant at this exciting palladium, platinum, copper and nickel project\". \nChristian Schaffalitzky, Chairman at Eurasia, added: \"We are delighted to advance the Monchetundra Project. The details include not only the engineering components, but also the financing and legal documentat...