TurkPower now SibMet Coal

AMERICAN mining junior TurkPower has changed its name to SibMet Coal.
TurkPower now SibMet Coal TurkPower now SibMet Coal TurkPower now SibMet Coal TurkPower now SibMet Coal TurkPower now SibMet Coal

Image courtesy of TurkPower

Donna Schmidt

The New York-based company said the identity change would better reflect its expanding metallurgical coal focus in Russia.

SibMet, which is specifically focused on Siberian coal, recently acquired the Zavyalov Square of the Toguchino coal field located in Russia’s Novosibirsk region.

Zavyalov has an estimated 100 million tonnes of coking coal.

Under the deal, which gave the producer 100% ownership in the property, it also purchased coking coal inventory worth more than $US20 million. The company will divest that supply during this year’s second quarter.

In addition to Zavyalov Square, SibMet also owns a minority interest in an operational iron ore mine in Turkey.

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