ICT Holding owns 45% of Altraso Ventures Ltd, which invests in thermal coal mining projects on the Russian coast of the Pacific Ocean.
Altraso Ventures Ltd owns 100% of East Mining Company (EMCO), which consolidates power generating coal assets located in Sakhalin and in the Magadan region and exports coal to countries in the Asia-Pacific region, the world’s biggest consumers of coal.
Coal mining in Sakhalin is currently carried out in the ‘Southern-1’ and ‘Southern-2’ segments of the Solntsevo coal field. The volume of coal reserves is estimated to be 250 million tonnes.
The coal mining project in Sakhalin is a strategic investment for ICT due to the return on investments and the potential to develop the business.
According to the 2018 annual results, 7.5 million tonnes were produced by the EMCO comparing to 4 mln tonnes in 2017. It is planned to increase of annual output of extraction and shipping of coal to 10 million tonnes in 2019 year.
Within the framework of the investment project, EMCO constructs a coal handling conveyor system to transport coal from the mine to the shipping port. The length of the conveyor is about 28 km. The project benefits The Free Port of Vladivostok regime.