Tigers Realm Coal has acquired the Beringovsky Port and coal terminal in Russia. The port and terminal are located 35 km northeast of the company’s Amaam North coal deposit, where the company has proposed building what would be known as its F mine.
The port is fully operational and, under the terms of the sales agreement, will continue to ship up to 70,000 tpa for the nearby Nagornaya mine and volumes of general cargo.
The Beringovsky Port has historically handled over 700,000 tpa of coal from the Nagornaya mine and the port will be progressively refurbished and expanded to at least 1 million tpa capacity.
Tigers Realm Coal has acquired exclusive ownership and management rights over the port; for a total cost of US$ 5.1 million. The purchase was funded using existing cash reserves.
The port is equipped with infrastructure, barges, warehouses and office buildings.
Secure, low cost access to transport infrastructure is critical to the success of bulk commodity projects globally, and acquiring sole ownership and control of the Beringovsky port allows Tigers Realm Coal to secure a critical part of the mine-to-end-user infrastructure chain.
The company owns 80% of the Amaam metallurgical coal project, which is located in the Chukotka Province of eastern Russia.
As reported in the 2013 Pre-feasibility Study, the Project F operation is set to begin exporting coal in 2016, at a rate of approximately 500,000 tpa with ramp up over time to around 1 million tpa.
Edited from various sources by Sam Dodson
Read the article online at: https://www.worldcoal.com/handling/10062014/tigers_realm_coal_purchases_russian_port_and_coal_terminal_961/