Severstal to invest 140 million USD in Arctic coal
Russian mining and steel major Severstal will invest 140 million USD in upgrading its coal mines in the Komi Republic this year, Reuters reports.
As part of the investment programme, Severstal’s subsidiary in the region, the Vorkutaugol company, will get improved industrial safety and working conditions for miners. In addition, provision of support for the development of Vorkuta and the Komi Republic as a whole will be arranged for, Reuters writes Vorkutaugol operates six coal mines in Vorkuta, the Komi Republic. Severstal Resurs is Russia’s second-largest producer of coking coal and iron ore pellets. It supplies Severstal’s main steel plant in the city of Cherepovets as well as other Russian steel mills. The six Vorkuta mines in 2007 produced 7,4 million tonnes of coking coal concentrate, coking coal and steam coal. Vorkuta is situated just north of the Arctic circle in the Pechora coal basin. Its population as of the 2002 census was 84,917. The city has its origin in one of the more notorious forced labour camps of the Gulag which was established in 1932.
