Development of the Arctic
The Russian Arctic located behind the Polar Circle is a unique base for further development of the mining and transport industries. The inferred resources of coal in the Russian Arctic exceed 500 Bn. tons. Besides, the Northern Sea Route can make Russia the leader in sea transportation.
VostokCoal initiated the Expert Council affiliated to the Russian Government - the "Development of the Arctic and Northern Sea Route" Task Team. This task team assesses initiatives and gives suggestions relating to further development of the Russian Arctic, implementation of advanced technologies, and improvement of applicable laws and regulations, as well as develops projects of the region’s comprehensive development.
The Northern Sea Route is not only the main seaway in the Russian Artic, but also the prime driver of the regional economy. Increasing cargo turnover through the Northern Sea Route will both stimulate business activities behind the Polar Circle and develop the important transportation route.
VostokCoal is building the sea deepwater port Chaika. Company plans to build another deepwater port - Bukhta Sever. In total, these ports will be able to handle quantities exceeding 30 million tons of coal a year. After developing the port and loading infrastructure, shipment costs at the main seaway in the Russian Arctic will decrease significantly.