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Development of the Elginsky deposit will lead Mechel into the top three largest producers of coal for metallurgy in the world - Oleg Korzhov

В an exclusive interview Oleg Korzhov, General Director of Mechel OAO, told why the Elga coal deposit can already be considered a priority development area in the Far East.

"We are considering the option of attracting a strategic investor to the Elginskoye field. This is the main investment project "Mechel", the largest deposit of high-quality coking coal in Russia with reserves of 2,2 billion tons. It is located in South Yakutia and has a unique geographical advantage in the coal market of the APR countries because of a short transport link to the Far Eastern ports, "the general director of Mechel said.

According to him, the largest Asian metallurgical companies are interested in joining the project - "it will allow them to provide their own production with coal for decades to come."

“We have not started active marketing of the project yet, but we are at a low start. I can say that already at this stage there are a number of interested parties from Southeast Asia and other regions. Last fall, VEB approved 2,5 a billion dollar loan for the development of the project - now that we have funding, this is a completely new investment story that is of interest to virtually all of the largest steel producers in the region, ”he said.

O. Korzhov also noted that Mechel is a mining and metallurgical company. The Elginskoye field is indeed the main element of our development strategy - in the long term, its development will allow the company to become one of the three largest coal producers for metallurgy in the world. ”

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