Palladium price gains may prompt re-estimation of Monchetundra reserves

The soaring palladium price is boding well for the Monchetundra project, on the Kola Pensinsula of Russia, and has boosted the project’s in-situ value to about $2-billion, project owner Eurasia Mining reports. The company, which is listed on London’s Aim, said on Tuesday that it was considering a re-estimation of the reserves at Monchetundra, noting that the palladium price had soared by about one-third this year.