MOSCOW, Aug 18 (PRIME) — Luxemburg-registered Evraz Group S.A., which operates mainly in Russia, has started construction of the Yerunakovskaya-VIII coking coal mine in the Kemerovo Region, Evraz said Thursday.
Investments into the project are expected to amount to about U.S. $590 million.
The company plans to start coal mining operations in mid-2013. The mine is expected to reach a production capacity of 2 million tonnes of coking coal per year by the end of 2014.
The development of the mine is to begin with the Yerunakovsky-VIII deposit, with future expansion likely, the company said. The deposits coking coal reserves currently stand at 85 million tonnes.
Evraz Group is one of the largest vertically integrated metallurgy and mining companies operating in Russia.