Coal Company Zarechnaya intends to raise its share in Baltic Coal Terminal to 100%

Coal Company Zarechnaya LLC intends to raise its share in Baltic Coal Terminal (Ventspils, Latvia) to 100%, the company says.  The agreement was signed as early as on February 15, 2013 but has not been executed yet. Currently the mine holds 50% of the terminal’s shares.

Coal Company Zarechnaya is one of the most reliable and successfully developing coal mining holdings in Kuzbass region. It is one of Russia’s five largest exporters of thermal coal. Coal Corporation Zarechnaya manages the coal mining and subsidiary enterprises. Zarechnaya includes 6 coal mining (3 under construction and 3 operating), washing plant and a number of subsidiary enterprises. Coal Company Zarechnaya exports more than 90% of the end product. The consumers are: chemical-recovery, energy and other enterprises in more than 12 countries including Spain, The United Kingdom, the Netherlands, etc.

Baltic Coal Terminal is a joint venture of JSC „Ventspils Commercial Port” and LLC „Indtec Baltic Coal” which represent the interests of OJSC «Zarechnaya Mine», supplying coal from Russia. In 2012 the terminal handled 4.799 mln tonnes of cargo. Currently, the coal handled at the BCT’s terminal is exported largely to the ports of the UK, Germany, Italy and the Netherlands.  The terminal’s indoor warehouse allows simultaneous storage of 210,000 tonnes of coal, (throughput capacity - 6 m t/y). The two companies have invested in the first phase of the terminal EUR 80 million.