It is reported that the Russian mining and steel producing company Evraz Group and Vorkutaugol, a coking coal producing subsidiary of Russian steel producer Severstal, have both made bids for the right to develop the Mezhegeiskoye coking coal deposit, located in the Russian Republic of Tuva.
Accordingly, the results of the auction for the deposit's development, which is being held by Russia's federal agency for natural resource use (Rosnedra), will be announced on March 2, 2010.
This is the second time an auction for the development of the Mezhegeiskoye coking coal deposit is being carried out. As SteelOrbis previously reported, in July 2008 Evraz's Yuzhkuzbassugol won the right to develop the deposit, but then renounced its right to purchase the license due to the continuing global financial and economic crisis and also due to the weakening conditions in the coal market.
The Mezhegeiskoye coking coal deposit has an estimated reserve of about 213.5 million mt.