U.K.-based mining giant Evraz, which operates mainly in Russia, plans to invest 1 billion rubles in development of the Yesaulskaya coal pit in the Kemerovo region, the company said in a statement.
Under the investment project, the 29a coal bed with booked reserves of more than 10 million tons of gas-fat coking coal will be developed. Production at the coal bed will start in 2019 after the launch of the 29-37 coalface, and will allow the company to raise the average annual coal output in the pit to 2 million tons from 1.4 million tons, the company said.
“The current reserves of Yesaulskaya will be depleted in two and a half years. A switch to the new coal bed will help us keep the company and jobs,” Evraz said citing Sergei Stepanov, CEO of subsidiary coal producer Raspadskaya. (Prime/Ukrainian metal)
