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Evraz Wins License to Develop Mezhegey Coal Deposit
07/25/2008 - Evraz Group wins the tender to develop the Mezhegey coal deposit in the Republic of Tyva, Russia.
Evraz Group SA has won the tender to develop the Mezhegey coal deposit in the Republic of Tyva, Russia. Evraz offered US$725 million in the tender held by the Russian State Mineral Resources Agency.
The Mezhegey coal deposit is a world class coking coal deposit with estimated category A+B+C1 coal reserves and resources of 213.5 million tonnes of hard coking coal (grade Zh under Russian classification). It is located 800 km east of the city of Novokuznetsk, in the central part of the Republic of Tyva, East Siberia.
“The purchase of the license to develop the Mezhegey coal deposit is in line with our strategy to expand Evraz’s mining platform,” commented Alexander Frolov, Evraz’s Chairman and CEO. “The company will secure additional supply of high-quality coking coal to its existing steelmaking facilities, as well as deliver extra volumes of the coal to meet the growing demand from the market”.
The Mezhegey coal deposit is a world class coking coal deposit with estimated category A+B+C1 coal reserves and resources of 213.5 million tonnes of hard coking coal (grade Zh under Russian classification). It is located 800 km east of the city of Novokuznetsk, in the central part of the Republic of Tyva, East Siberia.
“The purchase of the license to develop the Mezhegey coal deposit is in line with our strategy to expand Evraz’s mining platform,” commented Alexander Frolov, Evraz’s Chairman and CEO. “The company will secure additional supply of high-quality coking coal to its existing steelmaking facilities, as well as deliver extra volumes of the coal to meet the growing demand from the market”.
