by Anthony O’Goryinoff
Eurasia Mining Plc said late Monday that a subsidiary has signed a legally binding cooperation agreement with Russian state-owned Far East and Arctic Regions Development Corporation (ERDC).
The metal-mining company of the London-listed Platinum Group said the deal would benefit its projects in the Kola Peninsula as well as other projects the company may undertake in the Arctic.
The company said this collaboration will allow its Cola subsidiaries to receive various tax and non-tax benefits as well as more state support for their projects and all the projects included in the agreement.
“The ERDC agreement is an important milestone in developing our strategic options with respect to the confirmation of our ownership title and with respect to various tax and non-tax benefits to add more value to the company,” said Executive Chairman Christian Shefalitzki said.
Anthony O. Write to Goriainoff at [email protected]