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Japanese investors are interested in Yakut coal

Japanese investors are interested in Yakut coal

Japanese investors have expressed interest in developing a coal-fired coal deposit. The Far East Agency for Attracting Investments and Export Support organized discussions between leading Japanese corporations and the Dolguchan company on investment in the development of a large coal deposit and the supply of Yakut coal to Japan.

According to the press service of ANO API, the Japanese side showed high interest in the project. The meeting was attended by Sumitomo, Mitsui, Sojits, JOGMEC, JETRO and others. As the managing director of ANO API Alexander Volkov noted, the project has great potential for development, taking into account its location and the quality of coals that are offered for supplies to Japan. Before the meeting, Japanese companies requested the chemical and physical characteristics of coking coal, at the meeting the participants were able to discuss fundamental issues of logistics and transportation.

The agency, together with Dolguchan, prepared an investment proposal for the construction of a mining and processing plant located in the southeastern part of the Chulmakan deposit in the Neryungri region of Yakutia, and further development of this coal deposit. The reserves of high-quality hard coking and semi-hard coal there are up to 1700 million tons.

According to the general director of Dolguchan LLC, Arkady Ostrovsky, the Dolguchan coal project has good prospects for uninterrupted and reliable supplies of coking coal concentrate to the Asian region markets within 7-10 days.

The Lokuchakit area assumes a combined mining method, including open pit and underground mining. The preliminary study assumes a gradual increase in production volume, an increase in the open pit to 1,5 million tons in 2022 and beyond. Underground mining will begin in 2025. The volume of coal production during the construction of the mine will reach a production capacity of about 1,5 million tons per year in 2025 and will continue until 2055.

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