Tigers Realm Coal Ltd. on Dec. 20 said it has mined first coal from its Project F on the Russian Pacific coast and has trucked it to the stockpiles at the company-owned Beringovsky port.
In 2017, the ASX-listed company expects to sell 30,000 tonnes of semisoft coking coal and up to 220,000 tonnes of thermal coal from the mine.
Development work, such as building a winter road, commenced in August following a A$23.3 million underwritten rights issue.
The company is mining a part of the pit where the waste-to-coal stripping ratio for the first year of production is less than 2:1.
Tiger Realm plans to mine and haul coal to the port until May 2017 and will then cease production to convert the winter road for use in all seasons by the third quarter of 2017, allowing the company to mine and truck at a rate of 600,000 tonnes per annum.
In the first phase of the mine's development plan, the company will run a 2 million-tonne-per-annum open-pit operation, which will produce semihard coking coal.
The first-quarter 2017 hard coking coal price is settled at US$285 per tonne free on board, to be sold at 15% to 20% discount, and the soft coking coal f.o.b. price for the same quarter is settled US$171 per tonne.