Eurasia Mining Plc (“Eurasia” or the “Company”), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce its strategy and progress update in relation to the hydrogen and ammonia markets.
With the opening of its Japan office and the appointment of director Tamerlan Abdikeev, the Company has identified opportunities in hydrogen/ammonia production that are complementary to the PGM business in Russia. Furthermore, this new business sector has created openings for a new and parallel strategy based on this new opportunity.
Highlights:
· Agreement signed with H4Energy Joint-Stock Company (“H4Energy”), an engineering and development company specializing in hydrogen and ammonia projects (further details below), in relation to establishing a joint venture with Eurasia to develop hydrogen / ammonia projects in Kola and Sakhalin (“Projects”)
· Support for the development of the Projects on the Federal level secured from the Deputy Prime Minister of Russia / Presidential Envoy to the Far Eastern Federal District
· Pre-investment feasibility study reports prepared for Eurasia and H4Energy and reviewed by independent technical experts, including financial models and sensitivity analyses
· Agreement signed with State Far East and Arctic Development Corporation (ERDC) to assist with the procurement of land and energy supplies in relation to both the Kola and Sakhalin hydrogen / ammonia projects
· Energy supply agreements with regional energy suppliers are in the process of being negotiated by Eurasia and H4Energy
· Several off-take agreements being discussed including own use of hydrogen for the Company’s mining equipment for the Kola operations
· Project finance plan being developed further to ongoing discussions with Asian investors
Further information is available on Eurasia’s website at: https://www.eurasiamining.co.uk/investors/presentations
Christian Schaffalitzky, Executive Chairman of Eurasia commented: “The Directors are delighted to see tangible progress in the development of a broader Eurasia growth strategy, ‘Eurasia v.2.0’ in the ammonia and hydrogen markets alongside the development of our existing world class Battery Metals and PGM projects. We are confident this will create new opportunities for value creation and expand our Company’s business.”
A copy of this announcement is also available on Eurasia’s website at:
https://www.eurasiamining.co.uk/investors/news-announcements.
For further information, please contact:
Eurasia Mining Plc
+44 (0) 20 7932 0418
Christian Schaffalitzky / Keith Byrne
About Eurasia Mining Plc
Eurasia Mining plc is a palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals, and also the operator of the Monchetundra Project comprising two predominantly palladium open pit deposits located 3km away from Severonickel, one of Norilsk Nickel’s largest base metals and PGM processing facilities, near the town of Monchegorsk on the Kola Peninsula. A parallel business development strategy based on the Hydrogen Economy forms a new development arm of the Company.
About H4Energy / H2Transition Capital
H4Energy is an engineering and development company specializing on hydrogen and ammonia projects, the latter regarded as the ‘lowest hanging fruit’ in terms of its environmental impact and cost competitiveness. H4Energy’s vision is to reach 1MTPA of hydrogen per annum by 2030.
H4Energy is under management of H2Transition Capital founded by ex-Shell energy transformation team members (in alphabetic order):
· Artem Matyushok, former vice-president M&A for Rosneft, and former Shell alumnus, where he participated in several development projects and later was involved in Shell’s incipient Energy transition initiative;
· Geoff Nesbitt, ex-Shell R&D senior manager and former CTO for Petrofac, well-rounded Process Chemist with executive IMD degree. His career has spanned both sides of the energy industry transition from extractive to renewable sources;
· Richard Oblath whose last 25 years of a 40 year industrial career was with Royal Dutch Shell in senior roles including VP Downstream Global Portfolio Projects heading M&A for both Downstream and the then emerging New Energies businesses. Post retiring from Shell he is a non-executive director of Boson Energy (a waste to energy and hydrogen firm), Chair of the Energy Transition Group and a Fellow of the Institute of Materials, Minerals and Mining, a Fellow of the Energy Institute, a Member of Chatham House and Chapter Zero (a community of non-executive directors who understand and can position the Energy Transition with their board colleagues).
