Due to significant experience in the coking coal sales around the world Michaeli Holdings has a clear vision of the market situation regarding this raw material. There is a tendency for further shortage of this product in the world and therefore this direction is one of the main priorities in the build-up of own raw materials base for the Holding.
We invest significant means into research and geological exploration of coking coal deposits in Poland. The Holding has obtained a license for geological exploration of the prospective area for coking coal and plans to start exploration in the Q2 of 2011.
Specialist of the company studied the mentioned project for a significant period of time and have serious suppositions for finding coal of the highest quality with tentative reserves not less than 200 m. tons.
Work on the project shall be conducted by a subsidiary company Michaeli Carbon Ltd.
Besides the project in Europe the company conducts negotiations with Departments of coal and pit industry at the Ministry of Energy (Russian Federation) regarding investments into development of coking coal deposits in Yakutia. Specialists of the company performed significant work in this direction and analysis of the raw materials base in the region. We selected the most prospective deposits for further development and continue negotiations with official authorities.