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Korean investors are attracted to coal mining in the Magadan region
They want to interest investors from Korea in the project to create a coal cluster in the Omsukchan district of Kolyma.
The total investment will amount to more than 12 billion rubles, according to the official website of the administration of the Magadan region.
Governor Vladimir Pechenyi said that in 2014 the regional government signed an investment agreement with North-Eastern Coal Company CJSC (part of the VGK Group (Eastern Mining Company) on the implementation of this project and plans to interest investors in it.
The project is export-oriented with the possible sale of products in steadily growing sales markets (China, Korea, Japan).
According to the Minister of Natural Resources and Environment of the Magadan Region, Vladimir Mitkin, the project for the creation of a coal complex includes a number of coal deposits near the village of Omsukchan, an all-season road and a coal terminal on the shores of the Sea of Okhotsk.
Explored coal reserves for open-pit mining amount to more than 100 million tons with the prospect of further growth. About 1 billion rubles have already been invested in geological exploration. The main elements of the project being implemented are: construction and development of coal mines with a total capacity of more than 3 million tons of coal per year, design and construction of an export coal terminal in the area of the Pestraya Dresva Bay, which will also be able to service third-party cargo, reconstruction of a road with a total length of about 130 km.
Vladimir Mitkin also added that in October, at the 10th meeting of the General Assembly of the Association of Regional Administrations of Northeast Asia (ARASSVA), there was a talk about possible cooperation with Korean investors in the Jeollanam-do province on the creation of a coal cluster.