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The project to develop the Bering coal basin in Chukotka can be included in the TOP

After a detailed study, an investment project for the development of the Bering coal basin may be submitted to the RF Ministry for the Development of the Far East as a priority development area, Governor of the Chukotka Autonomous Okrug Roman Kopin said on October 29 in Moscow during a meeting with the management of the Australian company Tigers Realm Coal Limited (TIG) ...

The likelihood of such a prospect, according to the governor, can be said today, despite the difficult time for the project, the press service of the head of the region said.

- The development of a coking coal deposit in North Ammaam is considered by us as a promising direction. It fits into the concept of priority development territories, and we believe that after a detailed study, the project can be presented to the Ministry for the Development of the Russian Far East as another TOP in Chukotka, '' said Roman Kopin.

The Chukotka ASEZs, the governor noted, differ from those represented by other entities, but some have already shown their high profitability and profitability. The head of the region stressed that the Bering project is fully supported by the District Government and the Australian partner will be provided with the necessary assistance for its implementation.

Craig Perry, Chief Executive Officer of Tigers Realm Coal Limited, expressed gratitude to the Governor for the support and measures taken by the Government to create a comfortable investment climate in the region.

- Of course, this is not the best time to start such a large-scale project, but we are inspired by the fact that it is quite simple and technically understandable. The Pacific Ocean is nearby, coal is here. Everything can be seen on one sheet of the map. We are optimistic, - assured Craig Perry.

TIG has been developing the Amaam field in the Bering coalfield in Chukotka since 2012. The project is the development of the Zapadny and Levoberezhny license areas. The latter is located in North Amaam. It was with him that the company began the development of the project, having discovered the Fandyushkinskoye field deposit. The interest in this area, the company explains, is due to the fact that a sufficiently powerful seam of coking, that is, more profitable coal, has been explored there by local standards. The territorial proximity of the site to the operating seaport of the Beringovsky settlement is also advantageous.

At the last meeting, Craig Perry informed Roman Kopin about the results of exploration work in 2013-2014. He noted that the result of a large-scale drilling program at the Fandyushkinskoye field was the discovery of thick strata occurring at a shallow depth 18 km from the existing road and 35 km from the seaport.

- The work made it possible to confirm the significantly greater extent of the field strata, to increase the tonnage, especially in the category of “measured” and “indicated” resources. At the same time, most of the coal basin has not yet been studied in detail, there is an impressive potential for a further increase in reserves as geological exploration continues, ”said Mr. Perry.

According to him, compared to July 2013, the resources of North Amaam increased by 170% and today they amount to more than 72 million tons (including 12,6 million tons of “measured”, 13,2 million tons of “indicated” and 46,6, XNUMX million tons of "assumed").

- The resource data point to the potential for further increases in mining life and annual production volumes, as well as opportunities for improving the economy of the Fandyushkinskoye Field project. Currently, we continue to work on the preparation of a bank feasibility study, which will be completed in the 4th quarter of this year, - believes Craig Perry.

He stressed that the company wants to start commercial exploitation of the deposit as early as possible and reach the planned coal export targets of up to 1 million tons per year.

In mid-November, TIG representatives, co-investors of the project (RDIF and Baring Vostok Private Equity Fund V), as well as First Deputy Minister of the Russian Federation for the Development of the Far East Mikhail Osipov are expected to visit Chukotka. The delegation plans to visit the field and hold an extended meeting in Anadyr.

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