Project seeks rewards in Russian mines

Shenhua Group teaming up with Rostec to explore deposits of coal

Russian state-owned holding company Rostec said on Thursday it has inked a $10 billion contract with China's Shenhua Group Corp Ltd to explore coal deposits in Siberia and the Far East of Russia.

Sergey Chemezov, CEO of the Russian industrial conglomerate, said the project will include the exploration of the Ogodzhinsky coal mine and construction of a coal terminal at Port Vera near Cape Otkytiy in the Primorsky region.