Itera Won Competition on Apsatsky Field Development
OREANDA-NEWS. On 22 May 2008 was announced, that Arkticheskiye razrabotki Ltd. (Arctic Developments Ltd.) of ITERA International Group of Companies (ITERA IGC), won in the auction on a right to develop Apsatsky coal property in the Trans-Baikal Region, carried out by Chita Territorial Agency on Subsurface Use.
According to Igor Makarov, Chairman of the Board of ITERA IGC, an interest to development of Apsatsky coal deposit is caused by its resource potential and its strategic location. “The field may serve a start-up point for the energy base to allow for further development of unique deposits of copper, iron ore, gold, nickel and platinum, located in the Irkutsk Region and the Chita Region”, - he pointed out. Apsatsky field is located in the north of the Chita Region. Reserves of fossil coal are 2.2 billion tons, and that of methane are in excess of 180 billion cu m.