A first plant is located on the border of the Klyuchiki and Bolshaya Sosnovka areas to process the material mined from those areas, while second and third plants will process material mined from Bolshaya Sosnovka.

In addition to commissioning the plants at West Kytlim, the world's largest soft rock PGM open pit mine, the company plans to acquire an electric dragline to significantly increase its mining capacity there.

Additional benefits of the electricity grid connection and the use of an electric dragline are substantial cost reductions in both mining and processing costs.

The mine has reserves of 4,477 Kg PGM, under the Russian B,C1,C2 categories

"We expect EUA to add a further three plants (six in total) to reach 64,000 oz/yr PGM production," ACF Equity Research wrote in a note.

"The directors are pleased that we are consistently delivering on our promises in terms of our expansion plans, cost reduction and last, but not the least sustainability," said chief executive and managing director James Nieuwenhuys.

"The electricity grid connection will further improve our ESG credentials and together with the three plants successfully launched will cement our position as a low-cost producer".

In January, the company had a definitive feasibility study approved for an expansion of its West Kytlim platinum project in the Central Urals.

Eurasia Mining said the DFS was a "step-change" as the envisaged expansion would allow production at several open pits concurrently at West Kytlim, eliminating single asset risk.