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Australian start-up on the shores of Chukotka
Tigers Realm Coal Limited intends to increase the volume of annual coal production and shipment
For the Australian coal company Tigers Realm Coal Limited (TIG), vast distances and the harsh climate of Chukotka have not become an obstacle - it has been successfully conducting geological prospecting for several years in the Bering coal basin and is developing the first of a whole group of world-class coking coal deposits discovered there. About the changes in the company, its achievements and problems in an interview with EastRussia, said executive director Dmitry Gavrilin.
- The change of management is mainly due to the company's transition to a new stage of its development, since the company has turned from a start-up into a production asset. The project development strategy remains unchanged in the main: we will continue to increase the annual production and shipment of coal and create the necessary production capacities and infrastructure for this.
- Did Western sanctions affect the work of your company?
- Sanctions limited the possibility of attracting foreign funding. At the same time, such opportunities remain, in particular with export agencies and Asian financial institutions. At the same time, we are actively and successfully interacting with leading Russian banks.
- Have the company's plans for coal mining changed in 2018?
- We proceed from the approved plans. At the moment, about 300 thousand tons have already been shipped via our raiding port "Beringovsky", which is twice as much as the total shipment of the previous year. It is planned to further modernize the port and use a more productive port fleet, which will further increase the annual transshipment volumes in the port.
- You come from a large mining company HGC. Does this experience help in the current work?
- I consider the work in the Higher Secondary School as an important experience for myself, and I wish the shareholders of the Freight One every success in the implementation of their strategy. At the same time, TigersRealmCoal is a new project for me and an exciting career challenge.
- Shares of TigersRealmCoal are traded on the main stock and futures exchange of Australia (ASX). Are you satisfied with their evaluation?
- By the standards of the Australian stock exchange, our company is junior and only the second year is at the stage of extraction. We expect capitalization to increase when the planned strategy is met.
- How do you assess the Russian legislation in the field of mining? What are the challenges of junior companies?
- In general, the current legislation allows for effective work. At the same time, the regime of territories of outstripping socio-economic development in the Far East creates additional favorable conditions for investors. The main problem of junior companies, we still have limited access to long-term credit and equity financing.
- Does the company feel support from officials?
- The project finds support at all levels, both in the person of the government of the Chukotka Autonomous Okrug and at the federal level. We closely and effectively interact with the Ministry of Regional Development and other specialized federal agencies on a wide range of issues related to the development of our enterprise.
- Can the scheme for building a start-up business in your company be an example for others?
- Unity in the construction of start-ups can not be, each project is unique. Like our project, especially taking into account its natural and geographical features. An example, in my opinion, should serve purposefulness, professionalism, cohesion and teamwork.