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Tigers Realm Coal acquires Beringovsky Port and Coal terminal in Russia

Tigers Realm Coal acquires Beringovsky Port and Coal terminal in Russia

Tigers Realm Coal (ASX:TIG) has acquired the Beringovsky Port and Coal Terminal located 35 kilometres to the north-east of the TG's Amaam North deposit and the proposed Project F mine.

The port is presently fully operational and under the terms of the sales agreement, the port will continue to ship up to 70,000 tonnes of coal annually for the nearby Nagornaya mine and volumes of general cargo.

The Beringovsky Port has historically handled over 700,000 tonnes of coal per year from the Nagornaya mine and the port will be progressively refurbished and expanded to at least 1Mtpa capacity.

TIG now has exclusive ownership and management rights over the port; for acquisition cost of US$5.1 million, funded from existing cash reserves.

The port is fully operational and equipped with infrastructure, barges, warehouses and office buildings.

Secure, low cost access to transport infrastructure is critical to the success of bulk commodity projects globally, and acquiring sole ownership and control of the Beringovsky port delivers TIG this critical piece of the mine-to-end-user infrastructure chain.

TIG owns 80% of the Amaam Coking Coal Project which is located in the Chukotka Province of far eastern Russia.

As reported in the 2013 Pre-feasibility Study, the Project F operation is planned to commence exporting coal in 2016, at a rate of approximately 500,000 tonnes per year with ramp up over time to around 1,000,000 tonnes per year.

 

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