29 Sep 2009 16:34

Raspadskaya wins auction for coal property in Kemerovo region

KEMEROVO. Sept 29 (Interfax) - Raspadskaya , one of Russia's biggest coking coal producers, on Tuesday won an auction for the right to explore for and extract coal at the Raspadskaya-4 section of the Raspadsky coal field in the Kemerovo region's Kuznetsk basin, an Interfax correspondent reported from the auction.

Raspadskaya offered 369.6 million rubles for the property following a starting price of 336 million rubles. OJSC Mezhdurechye, which is part of Sibuglemet Holding, also took part in the auction.

Raspadsky-4 is adjacent to properties licensed to three members of the Raspadskaya coal company in the Mezhdurechensk district.

Kuzbassnedra, the local division of Rosnedra, estimates the section contains 100 million tonnes of B+C1 coal (GZhO, GZh and Zh grades) and 1.5 million tonnes in marginal reserves.