BRIEF-Eurasia Mining buys out Anglo American stake in Urals Alluvial Platinum

Fri Jun 20, 2014 6:20am EDT
 
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June 20 (Reuters) - Eurasia Mining Plc :

* Entered into agreement pursuant to which its wholly owned subsidiary Eurasia Investments Limited ("EIL") will acquire, from Rustenburg Platinum Mines

* Agreement to buy remaining 50 percent of Urals Alluvial Platinum Limited ("UAP") which it does not already own

* Transaction will provide EIL with a 100 percent interest in UAP which holds PGM projects in Russia, including 171 sq km license area at W Kytlim which contains near to production-ready state approved platinum reserves

* Agreement is conditional on RPM Cyprus and members of Anglo American Platinum Group obtaining South African Exchange control approval Source text for Eikon: Further company coverage: