OPK TO MINE 775,000 TONNES OF COAL AT ELEGEST IN 2008

摘要

United Industrial Corporation (OPK), which manages the industrial assets of International Industrial Bank, said it is beginning to mine coking coal at the Elegest deposit in Tuva, one of Russia's largest. The operator of the project will be OPK subsidiary Yenisei Industrial Company, which holds the license to Elegest. The company plans to mine 775,000 tonnes of coal this year. Production is expected to increase to 3 million tonnes by 2010, and several years thereafter reach design capacity of 13.5 million tonnes annually.