China Shenhua to join new port project in Chukotka
The Government of the Chukotka Autonomous Region and China's largest mining and energy company Shenhua signed an agreement on economic and social cooperation, the regional government’s press service said.
The company may also take part in construction of a new regional port. The main subject of the agreement was the consolidation of funds and efforts to implement exploration and prospecting, extraction and processing of natural resources in the Chukotka region, and establishing the infrastructure (including road and rail, power generation, power lines and the sea port).
Shenua Group is interested in development of Beringovsky coalfield, located in the southern part of Chukotka with estimated coal reserves of 4.5 billion tons. For the development of Beringovsky fields it is necessary to build a deepwater port, new energy facilities, as well as the Bering – Anadyr highway.
The annual volume of coal production, provided the project implementation, is estimated at around 20 million tons, the report said. The region location is suitable for coal exports, convenient for trade and transportation to all areas of the Far East and the Asia-Pacific region, including China.
Founded in Oct., 1995 state-run Shenhua Group is now the largest mining and energy company in China and the second largest coal producing company in the world. In 2010 Shenhua Group produced over 340 million tons of coal.