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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 can be submitted to the Ministry of the Russian Federation 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 perspective, according to the governor, can be said today, despite the difficult time for the project, the press service of the head of the region.

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

The Chukotka TORA, the governor noted, is different from those represented by other subjects, 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 Okrug Government and the Australian partner will be provided with the necessary assistance for its implementation.

Chief Executive Officer of Tigers Realm Coal Limited Craig Parry expressed gratitude to the Governor for the support and measures of 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 clear. The Pacific Ocean is near, coal is here. Everything can be seen on one sheet of the card. We're optimistic, ”Craig Perry assured.

TIG from 2012 is engaged in the development of the Amaam deposit of the Bering coal basin in Chukotka. The project is the development of the license areas "West" and "Left Bank". The latter is located on North Amaam. It was from him that the company began the development of the project by opening the field "Fandyushkinskoe pole." Interest in this area, explains in the company, is due to the fact that there is explored a fairly powerful by local standards caking, that is, more profitable coal. Beneficial is the territorial proximity of the site to the current seaport of the village of Beringovsky.

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

- The works made it possible to confirm the considerably greater length of the reservoir layers, to increase the tonnage, especially in the category of "measured" and "specified" resources. At the same time, most of the coal basin has not yet been studied in detail, and there is an impressive potential for further increase in reserves as exploration continues, "Mr. Parry pointed out.

According to him, compared to July of 2013, the resources of North Amama are increased by 170% and now amount to more than 72 million tons (including 12,6 million tons of "measured", 13,2 million tons of "specified" and 46,6 million tons of " ").

- Data on resources indicate the potential for further increase in the period of mining and annual production, as well as the possibility of improving the economy of the project "Fundyushkinskoe field." At present, we are continuing to work on the preparation of a banking feasibility study, which will be completed in the 4 quarter of this year, Craig Perry believes.

He stressed that the company wants to start commercial exploitation of the field as early as possible and to reach planned targets for coal exports to 1 mln. Tons per year.

In mid-November, representatives of TIG, co-investors of the project (RFPI and Baring Vostok Private Equity Fund V), as well as First Deputy RF Minister for 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.

More details about the territories of advanced development: sites of TORs, investment projects, opinions - on the special page

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