Winsway Coking Coal Holdings, a Chinese importer of Mongolian coal listed on Hong Kong Stock Exchange, said its holding company has agreed to buy 60 percent of a Russian coking coal deposit for $90 million.
The holding company aims to buy 60 percent of the Apsatskoye coking coal deposit in East Siberia's Zabaikalsky region, about 1,000 km from a rail link between Russia and China, Winsway said in a statement on May 3. The deposit has an estimated 675 million metric tons of resources, Winsway stated.