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Mining start-up at West Kytlim under way, says Eurasia

By BFN News | 07:40 AM | Tuesday 21 June, 2016


Eurasia Mining, the PGM and gold mining company, has confirmed that the start up operation at its West Kytlim platinum and gold mine has begun. As reported on 25 May, SK Region-Stroy, has been appointed contractor for this work. Under the terms of the agreement SKRS will cover all capital and operating costs. In return, revenue from the sale of platinum and gold concentrates sold to the refinery is to be split 70:30, with Eurasia receiving 30%. Eurasia will manage the collection and transportation of the precious metal concentrates and the distribution of income. Earth-moving equipment has already been engaged for several weeks at the mine site carrying out preparatory works including pit protection drainage ditches, tailings storage ponds and stockpile areas. Accommodation, maintenance and fuel storage facilities have been installed. Access to forestry areas is advancing on schedule. Story provided by StockMarketWire.com

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