According to Russia’s Prime-TASS Energy Service the Siberian company paid 12.6 million rubles (approximately US$417,000) for the coal deposit located in the Kemerovo Region. The starting price was 12 million rubles.
SUEK plans to mine 500,000 tonnes of coal there in two and a half years.
SUEK is one of the three largest coal corporations in Russia, extracting more than 12% of all energy coals.
SUEK has adopted a program of modernisation and replacement of technical equipment necessary for sustaining the existing level of coal extraction. They are also looking at the exploitation of new deposits, increasing the scale of coal extraction and gaining the leadership positions on the market.