Promresurs of Russia Acquires Two Coal Assets in Tuva

en.Wedoany.com Reported - Promresurs, a Novosibirsk-based Russian company, has completed the acquisition of two coal assets in the Republic of Tuva, obtaining 100% equity in Ulugkhemugol and 81.3% equity in Mezhegeyugol coal company. According to the Unified State Register of Legal Entities of Russia, the two equity changes were completed on August 27 and September 3, respectively. The sellers were Severstal and Raspadskaya Coal Company. With the completion of the transactions, Promresurs has thereby entered the field of large-scale coking coal resource development in Tuva.

Among them, Ulugkhemugol was originally an asset of Severstal's mining division and was also the last coal asset retained by Severstal after its sale of Vorkutaugol in 2022. The company holds a coal exploration and mining license for the western block of the Ulug-Khem coal field, and has not yet achieved commercial production. Public resource data show that the block has approximately 250.52 million tonnes of C1-grade coal reserves, plus large-scale C2-grade resources, making it an important undeveloped coal resource in the Ulug-Khem coal basin of Tuva. Severstal stated that the sale of this asset is consistent with its strategic direction of reducing the use of solid fuel in its production chain.

Promresurs simultaneously acquired an 81.3% stake in Mezhegeyugol. The company is responsible for the exploration and mining of the Mezhegeyskoye coal deposit and holds the license for the Vostochny block in the western part of the Ulug-Khem coal basin. The project mainly produces Zh-grade coking coal, with a current design capacity of approximately 1 million tonnes per year. Calculated according to international classification, its proven and probable coal reserves are approximately 86 million tonnes. In the first eight months of 2026, Mezhegeyugol produced approximately 600,000 tonnes of coal, an increase of approximately 400,000 tonnes year-on-year.

The long-term development capacity of the Mezhegeyskoye project is directly related to regional railway infrastructure construction. The development of some of its mining rights was previously affected by delays in the construction of the Kyzyl-Kuragino railway, which was originally intended to serve as an important channel for transporting large-scale coal resources from Tuva to the main Russian railway network. At present, the coal mine has achieved a certain production capacity, but future capacity expansion still depends on the mining area's transportation system, railway outward transport capacity, and subsequent investment in mine infrastructure.

Promresurs was founded in 2017 and is mainly engaged in the wholesale of solid fuel. After acquiring in one transaction the two coal assets of Severstal and Raspadskaya in Tuva, its resource base will cover both the Mezhegeyskoye coking coal mine, which already has production capacity, and the western block of Ulug-Khem, which is still at the undeveloped stage. Its subsequent focus will be on mine development, coal preparation facilities, transportation systems, and the construction of supporting railway outward transport capacity.