Eurasia Mining receives final permit for West Kytlim

Eurasia Mining celebrated a major milestone on Monday, receiving the last of the necessary permits to begin mining at its West Kytlim alluvial platinum project in Russia’s Ural Mountains.

The AIM-traded platinum development company confirmed it had received notice that RostekhNadzor - the federal service for ecological, technological and nuclear supervision - had approved the Technical Design Report and the mine plan.

As such, the mining allotment certificate was issued, permitting mining works at Eurasia’s first area of development at Malaya Sosnovka.

Eurasia now holds all of the required permits for mining.

"We are very pleased with the steady progress to production in our West Kytlim project,” said managing director Christian Schaffalitzky.

“Mining is still targeted to commence this summer with our preparatory work still on schedule. We look forward to updating shareholders on a regular basis.”

Eurasia Mining shares had pared back some earlier gains, but at 1410 BST were still trading 6.15% above the waterline at 0.69p.