This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.
How does the Australian work in Chukotka?
Tigers Realm Coal Limited feels comfortable in Chukotka
From Anadyr to Melbourne - 12 thousand kilometers. It would seem that in common with the harsh Arctic region and fertile southern continent? The link was coal. The Australian coal company Tigers Realm Coal Limited (TIG) feels comfortable in Chukotka, successfully conducts geological exploration in the Bering coal basin and is preparing to start developing the first of a whole group of world-class coking coal fields discovered by it. Tigers participate in the first Eastern Economic Forum, which takes place in September in Vladivostok.
Over the past four years, Tigers have invested more than 85 million dollars in discovering coking coal deposits on the coast of the Bering Sea, having prepared a resource base (591 million tons of deficit world brands) sufficient for exporting over 10 million tonnes of coking coal per year. Most of the invested funds were attracted from Asia and Australia, but last year, Russian investment funds joined foreigners.
The Russian Direct Investment Fund (RFPI) and Baring Vostok Capital Partners (BVCP), together with Asian and Australian investors, invested almost 47 in Tigers out of a total of 55 million dollars of raised funds. This money went to the preparation of the Bank's Feasibility Study and the design of the development of the coking coal deposit Fandyushkinsky Field, the first of the open on North Amaam (starting Project F), and the continuation of exploration in the Amaam sector.
"We are very pleased that the two universally recognized funds - RFPI and BVCP - have demonstrated faith in the potential of TIG projects, giving the company substantial investment. We are grateful that the funds have agreed to participate in this project. This confirms our opinion that our projects are world-class projects and Russia is an attractive target for investment. We see great potential for further joint development of a larger Amama field, "said Craig Parry, TIG's CEO.
The governor of Chukotka, Roman Kopin, confirmed that the government of the Chukotka Autonomous Region highly appreciates the importance of the new investment project: one of the most promising sites of the Chukotka industry. At the same time, this is a profitable investment field. We express the hope that bilateral cooperation within the framework of this project will be fruitful. ” The head of the region stressed that the Bering project is fully supported by the regional government and the Australian partner is provided with the necessary assistance for its implementation.
The Australian company believes that the Russian Far East has every opportunity to become one of the main suppliers of minerals to Asia, and especially to China. The latter in the meantime continues to search for alternative suppliers of raw materials. The Russian Far East and, in particular, Chukotka, are in the field of view of Chinese entrepreneurs as potential new suppliers. Advantages over other countries are comparatively low costs and, in comparison with traditional markets, less remoteness. Currently, the volume of trade between the Russian Far East and China is about 3 billion dollars per year. Projects such as the export of coking coal from Chukotka are capable of increasing this figure many times.
The so-called "Project F", realized on the territory of the North Amaam deposit, is the starting point for Tigers Realm Coal Limited. Priority interest in this site in the company is explained by the fact that there is explored a fairly powerful layer of low-sulfur coking coal, suitable for cheap quarrying. The territorial proximity of the site to the existing seaport of Beringovsky is also advantageous.
The project includes a mining complex with a coal mine, an enrichment-sorting factory and an associated infrastructure; transport infrastructure with
It is expected that Project F, like other deposits of the Bering coal basin, will become part of the first in the territory of the advanced development (TOR) in Chukotka. The TOP regime will reduce the tax on mining operations from 57 to 34 rubles for 1 ton, the profit tax will decrease from 20% to 18% for
Based on the results of geological exploration work
The world coal market has been shaken for the past four years by a severe crisis, but even in times of crisis, the extraction of coking coal on the coast of the Bering Sea promises to be profitable. "Of course, now is not the best time to start such a large-scale project, but we are inspired by the fact that it is quite simple and understandable technically. The Pacific Ocean is near, coal - here it is. Everything can be seen on one sheet of the map. We are optimistic, "said Craig Parry, CEO of Tigers Realm Coal Ltd.
Tigers Realm Coal Limited (TIG) is a company specializing in the production of coking coal, whose shares are traded on the Australian Stock Exchange. Owns 80% of the authorized capital in Russian legal entities that have a number of licenses for exploration and production of coal in two licensed areas - in Amaam and Upper Alkatvaam (the working name of the site is North Amaam).