ICT Holding owns 55.5% of Tamlensia Ventures Ltd, which invests in thermal coal mining projects on the Russian coast of the Pacific Ocean.
Tamlensia Ventures Ltd owns 45% of East Mining Company, which consolidates coal assets located in Sakhalin and in the Magadan region and exports power generating 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 ICTH due to the return on investments and the potential to develop the business.
A significant rise in the asset’s value over the next six years will be secured by the increase of annual output and shipping of coal to 10 million tonnes, as well as the construction of a coal handling conveyor system to transport coal from the mine to the shipping port and a deep water port suitable for PANAMAX vessels.