MAISKOYE MINE ADMINISTRATION WINS RIGHTS TO MAISKAYA COAL BLOCK

摘要

Local firm Maiskoye Mine Administration won the auction on November 22 for the rights to the Pole Shakhty Maiskaya section of the Sokolovskoye coal deposit in the Kemerovo region with a bid of 210 million rubles, just one bidding increment above the starting price of 200 million rubles. Another company, Russian Oil Group, was allowed to bid immediately prior to the auction, but it did not make a price offer. Two other companies that had applied to bid m the auction - the Siberian Coal and Energy Company's (Suek) Sokolovskaya and the Siberian Business Union (SDS) Holding Co.'s Salek - did not end up participating. Sokolovskaya did not make a deposit by the deadline and was not allowed to bid, while Salek's application was reject because the company did not provide confirmation that it has the financial resources to develop the property.