The local governor of the region, Alexander Filipenko told ITAR-TASS World Service the area has rich coal deposits nearly all of which can be developed by open cut mining because of their shallow depth.
Scottish Coal is reported to be conducting an early due diligence on the deposits before making a decision on its level and form of participation.
The company produces more than 4 million tonnes per annum coal via open cut mines in Scotland.
Its Nettly Burn project is still in development phase and is proposed to produce 470,000t over a 2.5-year mine life. Scottish Coal also holds the South Lanarkshire projects which are likewise at the development stage.