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Eurasia Mining says M&A strategy geared towards BRICS

2nd March 2022

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Platinum group metals (PGMs) and battery metals firm Eurasia Mining said on Wednesday that its board was closely monitoring the sanctions imposed on Russian individuals and entities, and stressed no one subject to these sanctions was associated with the company.

Eurasia also said that the sanctions imposed by the US and Europe over Russia’s military invasion of Ukraine would not impact on the firm executing its mergers and acquisition (M&A) strategy, stating that its focus was on BRICS nations (Brazil, Russia, India, China and South Africa).

Executive chairperson Christian Schaffalitzky said in a statement following a board meeting that Eurasia was particularly interested in M&A opportunities in Russia, China and South Africa, as well as Japan.

The board also stated that contrary to speculation, none of its team members, being the largest shareholder group, had sold any shares in the company.

"The directors are grateful that the fundamentals of the company are recognised including by H.C. Wainwright & Co initiating coverage on Eurasia by issuing independent research. In these times of high volatility, the directors and the officers continue to stay calm and focused on their jobs in the best interests of the company and all shareholders,” said CEO and MD James Nieuwenhuys

Eurasia operates the established West Kytlim mine in the Urals, and is also the operator of the Monchetundra project comprising two predominantly palladium openpit deposits located 3 km away from Severonickel, one of Norilsk Nickel's biggest base metals and PGM processing facilities, near the town of Monchegorsk on the Kola Peninsula.

Eurasia's project portfolio also includes Nittis-Kumuzhya-Travyanaya, a tier-1-scale nickel mine formerly operated by Norilsk Nickel.

Edited by Creamer Media Reporter

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