Russian
mining and steel producing company
Evraz Group announced on August 18 that it has launched the construction of a new
coking coal mine Yerunakovskaya-VIII within its existing coal
mining division Yuzhkuzbassugol in the Kemerovo region of
Russia.
The approximate investment for the project will be about $590 million, while production operations are planned to start by mid-2013. By the end of 2014, the mine is expected to reach a total production capacity of 2 million mt of raw
coking coal per year.
Mine development will start from the Yerunakovskiy-VIII deposit with the potential for further expansion into the Yerunakovskiy-Vostochnyi deposit. Joint development of the two deposits will provide long-term stable
mining operations and a guaranteed supply of high quality hard
coking coal. The estimated reserves of the new areas being developed are in excess of 85 million mt.
This project is in line with
Evraz’s strategy to further develop its coal
mining operations. Construction of the new mine will increase the level of vertical integration, providing
Evraz’s steelmaking facilities with high quality
coking coal.