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Tata Power’s Russian subsidiary, Far Eastern Natural Resources LLC has won the mining licence for a thermal coal mine in Kamchatka province in far east Russia.
The company in a BSE filing stated, “The subsidiary participated in the financial auction process at Petropavlovsk, Kamchatka today (on December 22, 2017) and was awarded a license at approximately USD 4.7 million.”
Further, the Kamchatka site is declared as special economic zone and thereby it will receive various concessions including protection against change of laws. The coal mine has high quality coal reserves of 380 million tonnes and the company plans to use it for its facilities in Mundra and Trombay and also sell in far east Asian markets.
