Page 10 - AsiaElec Week 09 2022
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AsiaElec                                           COAL                                              AsiaElec


       Tigers Realm Coal





       warns of problems at





       its Russian coal mine






        JAPAN            UK-LISTED Tigers Realm Coal, which is devel-  the full commissioning of the CHPP and the
                         oping the Amaam coal mine in Russia’s Far East,  uncertainty that we face in the current environ-
                         has acknowledged the impact of sanctions is  ment, our coal production and sales plan is being
                         likely to delay the completion of its coal prepa-  reviewed for the coming months,” Wiggill said.
                         ration plant.                        The company and suppliers are looking at alter-
                           The company told shareholders that con-  native commissioning options such as remote
                         struction at the Coal Handling and Process Plant  oversight of installation of electronic and IT
                         (CHPP) in the Russian province of Chukotka  componentry.
                         were continuing unabated, despite the conflict   The Amaam North coal mine has an annual
                         between Russia and the Ukraine.      capacity of approximately 2mn tonnes and an
                           However, the company noted that overseas  estimated total resource of 20.6mn tonnes.
                         equipment and service providers have raised   The Russian Direct Investment Fund (RDIF),
                         concerns around on-site visits, which Tigers  Russia’s sovereign wealth fund, holds a 7.9%
                         Realm said would impact the completion date  stake in the company and facilitated BV Mining,
                         of the CHPP.                         a Baring Vostok Private Equity affiliate, buying
                           Craig Wiggill, chairman of Tigers Realm  an 18.2% stake for A$36.2mn.
                         Coal, said that uncertainty around travel would   Until early February, RDIF had a director on
                         push back the completion date of the commis-  the company’s board. On February 26, the US
                         sioning of the CHPP.                 Government announced it would institute “full
                           However, Wiggill said the company is  blocking sanctions” on RDIF as a way of curtail-
                         “looking at alternative commissioning options  ing Putin’s ability to “expand the instruments of
                         such as remote oversight of electronic and IT  war and repression.”it™
                         componentry.”
                           “In the circumstances of a possible delay in








































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