Mining Company Eurasian Group Divests Its West Kitlim Assets in Russia

Wedoany.com Report-Dec.31, The mining company Eurasian Group has agreed to sell its West Kitlim mining operations in the Ural region of Russia.

The mining company has decided to divest its stake in Kosvinsky Kamen, which owns the West Kitlim platinum group metals and gold operations. The buyer is a local Russian company. According to the agreement, the asset is valued at approximately $251 million, but the actual cash consideration is about $9 million. Eurasian Group stated that the valuation difference is primarily due to the current international situation and relevant foreign investment regulations in Russia.

The mining company's strategic focus will shift to its Arctic assets, which account for 99.7% of the group's reserves. The proceeds from the transaction are planned to support the development of its core Arctic projects, including the NKT nickel-copper deposit. Independent assessments indicate that the net present value of the NKT project is estimated to be between $1.2 billion and $1.7 billion.

Following the completion of the transaction, Eurasian Group will retain the relevant licenses. The company's board of directors believes this sale is in the interest of its development and recommends shareholder approval. The shareholders' meeting is scheduled for January 15, 2026.