Monchetundra project first mover advantage in kola pgm

Monchetundra is a fully permitted palladium driven complex of open pit deposits being developed towards production adjacent to the mining town of Monchegorsk. An EPC contract and finance package is in place with Chinese Group Sinosteel.

The Monchetundra Flanks license contains extensions to the ore bodies identified within the Monchetundra license. Principal targets are in the NKT Massif, and the extensions to the Loipishnune ore bodies.

JV with Russian state Company Rosgeo includes a further 9 projects (total of 104.6M oz Pt eq) in the immediate vicinity of Monchegorsk. The first of these is Nyud.


Having worked in Russia and Kola for more than two decades, and through a 15-year JV with Anglo American Platinum, and holding the only currently approved PGM mining permit in the region, Eurasia has a clear first mover advantage. The Directors believe the Rosgeo JV has the potential to be transformational for the Company as we develop a new global centre for PGM and battery metals production.

Eurasia is working with partner Rosgeo, a 100% Russian state-owned company, to gain a 75% equity stake in nine PGM and battery metals assets with a total of 104.6Moz of Platinum equivalent Russian Code reserves and resources in the immediate vicinity of the Company’s Monchetundra Project. The projects are comprised of;

  • Four palladium, platinum, copper, nickel and cobalt open pit deposits, with feasibility studies and reserves approved by the Russian State Committee of Reserves (GKZ). These initial 4 projects are targeted as open pittable with toll treatment at the process plant at Monchetundra.
  • A further five predominantly open pit palladium, platinum, copper, nickel and cobalt assets having passed preliminary Eurasia due diligence can be developed within the JV structure, at Eurasia’s option.

Project Highlights


Palladium-rich flagship open pit mine (Pd, Pt, Cu & Ni)

Initial development focused on fully licenced and funded, 1.7Mtpa open pit mine

Palladium dominates in the basket, 1Moz production target with AISC in 1Q of the cost curve

Low cost development model: EPCF signed with Sinosteel, production target of 1Moz

15Moz resource in MT license & Flanks license

Rosgeo JV

Kola PGM and Battery Metals – Rosgeo JV

Eurasia entitled to 75% of nine PGM, Cu, Ni & Co projects (four post feasibility study) with 104.6M oz of Pt eq Russian Code reserves and resources in total

Rosgeo is a 100% state owned entity and operates with JV partners in US, UK and globally

JV significantly expands Eurasia’s Russian Code reserves and resources adjacent to Monchetundra


Clarity of focus on PGM & battery metals – 20 years' experience as successful operators

Monchetundra: transform Eurasia into a globally significant PGM player

Maintain focus on strong ESG position (Eurasia has already been included in the L&G Future World ESG UK Index; and Liberum’s climate portfolio)




JV with Anglo Platinum


Monchetundra identified as the stand out target


West nittis Discovery


Eurasia doubled its interest by buying out Anglo


Feasibility and reserves approved - mining license issued


Reserves approved and mining license issued at monchetundra main license


Expanding presence in the area with Flanks and Rosgeo JV