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ARMZ Uranium Holding Co. planning new projects in Trans-Baikal Territory
A Chinese delegation composed of representatives from the largest companies, including Sinopec International Company Rus, China National Machinery Import&Export Corp., Synfuels China and GR Project Management Co., paid a visit to JSC Atomredmetzoloto. The visit’s aim was to discuss prospects of the project to build a plant converting coal into diesel fuel, located on industrial site of JSC PIMCU, a company operated by ARMZ Uranium Holding Co.
The plant with the capacity of 500,000 tons is planned to be built by the Chinese technology CTL, which makes it possible to produce synthetic fuel of the top category at minimum costs. JSC Atomredmetzoloto holds licenses for developing reserves of coal deposits intended to be used as a raw material.
ARMZ Uranium Holding Co. considers this new line of business as complementary to its main activity, uranium mining, which is strategically important to the country. “The products will be not only used at JSC PIMCU, but also sold on external markets. An additional volume of combustibles and lubricants – incidentally, their production has no counterparts in the Trans-Baikal Territory – may significantly reduce logistics costs associated with fuel delivery to existing enterprises. Furthermore, creation of new, in particular high-technology, jobs will have a positive influence on the whole region’s development,” says Vladislav Matus, Deputy Director General, ARMZ Uranium Holding Co.
The Chinese party makes an emphasis on economic viability of the facility construction on the site of JSC PIMCU’s existing infrastructure, featuring such advantages as the availability of an in-house thermal power station, the possibility to use water resources and a close proximity to coal deposits. Having examined the industrial site in Krasnokamensk, Chinese experts confirmed the possibility of CTL plant construction.
The discussions resulted in signing Minutes of Negotiations between JSC Atomredmetzoloto and the Chinese party, under which it is planned to build the largest coal chemistry enterprise in the Trans-Baikal Territory. A Contract for Pre-Feasibility Study Preparation is scheduled to be concluded in February 2015; meanwhile, experts from both parties are exploring technical and financial issues in detail.