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Building of Inaglinskaya coalmine started in Yakutia

November 08, 2011, 12:18 UTC+3

The construction of the Inaglinskaya mine with estimated reserves of 120 million tonnes of high quality coking coal

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GORNO-ALTAISK, November 8 (Itar-Tass) — The construction of the Inaglinskaya mine with estimated reserves of 120 million tonnes of high quality coking coal, has been launched in the Neryungri district of Yakutia. The design capacity of production is 2.6 million tonnes per year, and in the future - 5 million tonnes or more. The mine is to be commissioned in 18 months, the press service of the president and government of Yakutia reported on Tuesday.

Head of Yakutia Yegor Borisov, speaking at the ceremony of the mine construction launch, said that the construction of the Inaglinskaya mine is “yet another practical confirmation of the implementation of the adopted Scheme for the siting of labour forces, transport and energy of the Republic of Sakha (Yakutia) until 2020, another step in the implementation of the “Integrated Development of South Yakutia” program.” According to Borisov, economic development projects in Yakutia are of great importance for the entire Far East of the country.

Head of the coal business of the Swiss company Gunvor S.A. Michael Holloman, having praised the quality of Yakutia coal, as well as its competitiveness in the markets of the Asia-Pacific region, promised that his “company will build the best mine in the world.”

Meanwhile, positive conclusions of the State Expertise agency have been made within the investment project concerning road infrastructure facilities and almost all railway lines. The high degree of readiness is observed in the electrical network infrastructure facilities. The Kolmar company has begun tunnelling work in the Inaglinskoye coal field, the construction of the coal mine’s surface complex has been started.

OOO Kolmar is a coking coal mining and processing company located in the Republic of Sakha (Yakutia). It owns four licences which allow production of coal by open pit and underground methods. Licenses fall within the Chulmakan and Denisovsky coalfields. OOO Kolmar’s attributable resources amount to 363Mt (calculated as ABC1 reserves under Russian classification). The operating assets of OOO Kolmar include: Denisovskaya mine and Inaglinsky open pit. Planned production is approximately 3 to 4 million tonnes of coking coal per annum.

Gunvor Group Ltd is registered in Nicosia, Cyprus, with major trading operations in Geneva and Singapore. The Group has a number of other offices and entities around the world. As one of the world's major independent commodity trading companies, it is a market leader in the trade, transport, storage and optimisation of oil and other energy products.

In present-day conditions, the energy resources (coal, oil, gas, and condensate) that have been discovered in more than 20 percent of Yakutia’s continental territory have acquired important strategic and economic significance. There are currently 900 explored deposits of hard, brown, and coking coal and coal shows. Total coal reserves to a depth of 1800 metres are estimated to be at least 10 trillion tonnes. Areas of oil and gas occurrences cover nearly the entire south-western part of the republic, where large gas, gas condensate, and oil and gas fields are concentrated. Commercial reserves of 1.3 trillion cubic metres of various grades of natural gas and probable reserves of 9-16 trillion cubic metres on Yakutia’s balance create real prerequisites not only for the development of large-scale gas export projects, primarily on the internal and external Far Eastern economic markets, but also for the development of the republic’s own oil and gas industry and the formation of a domestic fuel and energy complex.

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