NLMK receives license to explore and mine coal at Zhernovsky Gluboky field

Russian steelmaker Novolipetsk Steel (NLMK) has received a license for the exploration and production of coal in the Zhernovsky Gluboky section of Zhernovsky coalfield in the Kemerovo region, Russia. The cost of the license is Ruble 420 million ($14.9 million). It is thought that the coal reserves in the area may reach 73 million mt. The license is valid till 2031. In 2011, NLMK plans to invest more than Ruble 1.0 billion ($35.6 million) for the development of Zhernovsky GOK.