Eurasia Mining and Russian Rosgeo sign partnership agreement

Eurasia Mining PLC, mining and mineral exploration company focused on Russia and Russian state-owned company Rosgeo created a new joint venture. Eurasia explains that the partnership expands its world-class portfolio of mining assets on the Kola Peninsula. The Rosgeo agreement allows Eurasia to gain a 75% equity stake in joint venture with the remaining 25% equity stake to be held by Rosgeo. Eurasia says it has paid an initial consideration of USD500,000 of cash for its share in the joint venture.

Source: morningstar.co.uk