Kuzbass fuel company to increase extraction by 400 thousand tons in 2015

​“Kuzbass fuel company” OJSC (Kemerovo region) plans to increase coal extraction by 3.8%– from 10.6 mln tons in 2014 to 11 mln tons in 2015. The company considers a significant extraction growth to be incorrect but a growth of 400 thousand tons is able to provide the functioning of Kuzbass fuel company without losses, CEO and controlling shareholder of Kuzbass fuel company, I. Prokudin, said. He added that the capacities of coal extraction and shipment (presence of transport and energy infrastructure, prepared reserves) allow the company to extract up to 15 mln tons of coal a year but it is possible only in the conditions of price rise and lack of coal in the market. Meanwhile, according to Mr. Prokudin, the situation will be tough in the coal market for another 2-3 years and for Q2 2015 the prices have fallen by another $5/ton.

The investment of Kuzbass fuel company in 2015 is planned at the volume of 500 mln roubles against 515 mln roubles in 2014. The major part of investment (360 mln roubles) will be spent for the purchase of mining and transport equipment.