Production at Eurasia Mining Plc's West Kytlim platinum-gold mine in Russia's Sverdlovsk region has fallen as the company modifies the refinery and prepares for the seasonal shutdown, the company said in a Dec. 5 release.
"Production volumes are considerably less than anticipated due to continued optimizations and modifications required to the machinery on-site. We are actively working on new commercial arrangements to upscale the operation for the 2018 mining season," Executive Chairman Christian Schaffalitzky said.
Eurasia also noted that the new wash plant, which has been operational for just one month, made up for 38% of the season's output of 346 ounces of platinum. As part of its optimization plans, Eurasia intends to upscale operations at the facility through 2018.
The company added that mining may progress to at least two open pit sites in 2018 "to further manage the single asset risk." In 2018, Eurasia will focus on the reserves identified at the Malaya Sosnovka site in 2016 and 2017 as well as the Kluchiki and Bolshaya Sosnovka mine sites, which are also ready for development.
Meanwhile, Eurasia lodged a mine permit application for its Monchetundra platinum-palladium project in the Murmansk region, which holds 55.9 tonnes of palladium equivalent grading 2.08 g/t with major additional gold and base metal credits.
