Vneshtorgbank is currently considering $600 m credit to Elegestskoe owner, Sergei Pugachov and his United Industrial Corporation. The money will be advanced as collateralised by the deposit. The deposit owns confirmed reserves of c 900 m t of high-quality coking coal, making it one of the world largest.

The project is co-sponsored by the federal government, Russian Investment Fund investing 49.3 bn roubles. The deposit engages in industrial production of Zh-graded coal (according to Russian classification) delivering to MMK (Magnitogorsk), Evras, and to other large metal-making companies.

Theme:  Property/Coal