Vostokugol ‘ Dmitry Bosova will undertake the production of “Arctic-carbon”

Vostokugol ‘ Dmitry Bosova will undertake the production of “Arctic-carbon”

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Photo: Reuters

The company Vostokugol ‘ group owner Alltech Dmitry Bosova and his partner Alexander Isayev intends to mine in the Taimyr Peninsula up to 30 million tonnes, “Arctic-carbon”. However, industry experts call the company plans to “Napoleonic”

About the plans to mine on the Taimyr Peninsula up to 30 million tons of coal and build two deep-water port with a capacity of over 10 million t in a year, each reported to journalists by the Chairman of the Board of Directors and co-owner of the company “Vostokova” Dmitry Bosov during the International Arctic forum on Wednesday, March 29. “According to our plans each year we will be able to increase production by approximately 5 million tonnes, coming to 2022-2023 years on 30 million tons of total production,” he said. Vostokugol ‘belongs to the 50 sites of the Taimyr coal basin, Bosses estimates the total reserves of these deposits more than 10 billion tons to Start commercial production on one of these sites is near the village of Dixon Vostokugol’ plans this year, said RBC CEO Vadim Bugaev. And yet, according to him, the company is testing the demand for coal deposits — I recently shipped about 70 thousand tons to China for two bulk carriers-sorokiniana.

Vostokugol ‘ leads the development of sites where found “Arctic-carbon” — a high-quality anthracite, which is widely used in power industry, chemical industry, metallurgy, gboritsya on the website of the company. The company has begun development of deposits of the Taimyr coal basin in 2015. Now the reserves are in the process of putting on the balance, said Bosses. Vostokugol ‘ in the Arctic forum also agreed with the “Atomflot” on the export of their coal: the company has signed a transaction agreement on icebreaking ships along the Northern sea route. Vostokugol ‘ for future sales of its coal and is building two deep-water sea port on the Taimyr Peninsula. One of them, “the Seagull”, will begin work this year, says Bugaev. The design capacity of ports — by 10 million tons each. “We will be able subsequently to increase the capacity of both ports under the export 30 million tonnes of coal,” he said.

Dmitry Bosov has already invested in the project about $100 million, and the entire project is estimated at $250 million.

Vadim Bugaev sees the demand for anthracite coal in the world after the reduction of its supplies from Vietnam, Ukraine and South Korea. In Vietnam, this coal is in demand in the domestic market against the background of economic growth in the Donbas — military conflict and the export of anthracite from North Korea has been restricted by Western sanctions after the country tested a ballistic missile. “Western Europe will easily eat 10-12 million tons of our coal. I do believe that the Scandinavian countries will soon be a CHP on our anthracite. The rest will be shipped to India, China” — he said RBC.

Director of the analytical Agency “Rosinformugol” Anatoly Skryl notes that “in the world there is a niche for anthracite coal”. “The buyer of coal Taimyr coal basin. Another issue is that if “Vostokova” will be able to bring prey within a specified time to the specified level, it will be a precedent in the history of the coal industry. The pace is unprecedented,” he says.

In the opinion of traders in the coal market, familiar with the projects Bosova, they have a “huge problem with organization and project managers”. “One cannot pull with this organization,” he said.

In addition to the Taimyr project Vostokugol ‘ produces coal by open method in Kisacka field in Kuzbass and on East section in the Novosibirsk region. On the stated plans, aggregate production “Vostokova” already in 2017 will reach 15 million tons And if all the plans come true it Vostokugol ‘ with a production of about 50 million tons will be among the three largest Russian coal producers. Industry leaders — SUEK (Siberian coal energy company) and Kuzbassrazrezugol in 2016 produced 105.4 million and 44.3 million tons of coal, respectively.

In addition to “Vostokova” the owners of the company, there are other coal assets. The company “Siberian anthracite” (Dmitry Bosov, the main owner) in 2016, produced 5.4 million tons of anthracite and has exported 4.8 million tons of coal. Also Bosova with Alexander Isaev there is another coal project in Indonesia, reported Forbes. They are owned by the company Blackspace at the coal Deposit in Central Kalimantan in 2017 plans to produce 500 thousand tons of coal, and by 2020 to increase production to 10 million tonnes.

Coal from the Arctic

“Arctic-carbon” interested in Russia in the 1920-ies. “Arktikugol” in Soviet times coal was mined in the Svalbard archipelago, whose reserves are estimated at 10 billion tons, But with the cessation of state subsidies production in the former Soviet concessions has been unprofitable. Ambitious plans of coal production on the Taimyr Peninsula claimed also affiliated with “Norilsk Nickel” the company “Northern star” in 2009, as reported by “Vedomosti”. To develop the project “Norilsk Nickel” together with BHP Biliton, coal was planned to export to Europe. But plans have remained unfulfilled because of the harsh conditions in a remote area and the need for investment in infrastructure development.