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Korean investors are attracted to coal mining in the Magadan region

The project to create a coal cluster in the Omsukchan District Kolyma want to interest investors from Korea.

The total investment will be 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-East 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 possible sales of products in steadily growing sales markets (China, Korea, Japan).

According to Vladimir Mitkin, the Minister of Natural Resources and Ecology of the Magadan Region, the project to create a coal complex includes a number of coal deposits near the village of Omsukchan, an all-season motorway and a coal terminal on the shores of the Sea of ​​Okhotsk.

Explored open-pit coal reserves amount to more than 100 mn tons, with the prospect of further growth. About 1 billion rubles have already been invested in exploration. The main elements of the project 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 Pestraya Dresva bay, which can also serve third-party cargo, reconstruction of the highway with a total length of 130 km.

Vladimir Mitkin also added that a conversation was held in October at the 10 meeting of the General Assembly of the Association of Regional Administrations of Northeast Asian Countries (ARASSSVA) about possible cooperation with Korean investors in the Chollanam-do province on the creation of a coal cluster.

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