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Tata Power Eastern Natural Resources wins coal mine in Russia

Coal News - Published on Tue, 26 Dec 2017

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Economic Times reported that Tata Power said its Russian subsidiary Far Eastern Natural Resources LLC has bagged the mining licence for a thermal coal mine in Kamchatka province in far east Russia. The Kamchatka project site has been declared as a special economic zone and will qualify for various concessions including protection against change of laws.

Tata Power said in a BSE filing that "The subsidiary participated in the financial auction process at Petropavlovsk, Kamchatka today (on December 22, 2017) and was awarded a license at approximately USD 4.7 million.”

It said the coal mine has a high-quality thermal coal reserves of 380 million tonnes, which the company aims to deploy for its facilities in Mundra and Trombay as also sell in far east Asian markets.

It added that the company intends to carry out a detailed exploration and implement the project in a phased manner to reach a stable throughput of 8 to 10 million tonnes per annum.

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Posted By : Rabi Wangkhem on Tue, 26 Dec 2017
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