Eurasia Mining expands to hydrogen market
Eurasia Mining will develop new opportunities for value creation and expand the business through hydrogen.
Eurasia Mining Plc (a precious metal producing company) has announced its strategy and progress update about the hydrogen and ammonia markets.
It has opened an office in Japan and identified opportunities in hydrogen/ammonia production that complement the PGM business in Russia.
Eurasia has signed an agreement with H4Energy Joint-Stock Company (an engineering and development company specialising in hydrogen and ammonia projects) for establishing a joint venture to develop hydrogen/ammonia projects in Kola and Sakhalin in Russia.
Pre-investment feasibility study reports are prepared and reviewed by independent technical experts, including financial models and sensitivity analyses.
It has also signed an agreement with State Far East and Arctic Development Corporation (ERDC) to assist with the procurement of land and energy supplies related to the Kola and Sakhalin hydrogen/ammonia projects.
Eurasia and H4Energy are negotiating energy supply agreements with regional energy suppliers. The partners have discussed several off-take agreements, including own use of hydrogen for Eurasia’s mining equipment for the Kola operations. Eurasia is also working on the project finance plan and discussing it with Asian investors.
Christian Schaffalitzky, Executive Chairman of Eurasia, said that there is tangible progress in developing 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.