Russia's Evrazholding steel producer is planning a major investment programme to upgrade its existing coking coal mining assets and acquiring new ones, which should make it a major coking coal exporter within the next few years. The holding currently has the following mining assets: Raspadskaya Coal Company, Yuzhkuzbassugol and Neryungriugol. Together they produce 22mt/yr of coking coal and 4mt/yr of steam coal. Evrazholding's own annual coal requirement is 15mt/yr. In February Yuzhkuzbassugol won an auction for the Yeranukovsky VIII deposit in Kuzbass, paying the record sum of 41 dollars m. In early March Neryungriugol won an auction for the Vostochny site at the Denisovskoye deposit in Yakutia with 11.9 dollars m. According to Evrazholding's officials, the holding is planning to bid for the remaining 75 percnet government-held stake in Yakutugol (25 percent was bought by Mechel earlier this year) and for a stake in the giant Elga deposit in Yakutia.
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