Russian, Chinese Cos. Form $900M Coal JV Near Border

Law360, New York (December 11, 2013, 2:42 PM EST) -- Razrez Ugol, a Russian-Chinese joint venture, has acquired a license for a $902 million project to explore and develop the Zashulanskoye coal deposit in Russia, near the border between the two countries, the venture said Wednesday.

Russia's En+ Group and China's coal leader Shenhua Group Corp. Ltd. each own half of the venture, which paid $7.4 million for the license at an auction held by local authorities, they said. They estimate the deposit will contain 252 million tons of high-calorie, low-sulphur coal, with a production capacity...
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