Eurasia Mining (LON:EUA) has taken a major step towards the award of a mining licence for its West Kytlim alluvial platinum deposit.
Russia’s Ministry of Natural Resources (MNR) has approved the company's application, with the submission now resting with Prime Minister Dmitry Medvedev for final authorisation.
MNR approval and completion of the final licence submission for the Prime Minister's authorisation signifies that all the relevant Russian agency approvals for the mining licence application have now been received, Eurasia said.
In addition all necessary technical, financial and operational documentation has been received and accepted by the MNR, and forwarded to the Prime Minister's office.
Additional updated information related to the ownership of the project, has also been supplied.
Christian Schaffalitzky, Eurasia’s managing director, was delighted with the progress of its application.
“We have now arrived at the final approval stage which rests with the Prime Minister's office. For the company this is a key moment as we seek to advance into platinum production at West Kytlim.”
He added preparatory work has been continuing at the prospect while it waits for the licence, while also working at its other deposit, Monchetundra, and looking at other platinum opportunities.