Beringovsky Coal Basin sparked in 2005 again: its capacity is 632 million tons of coal; its distance from the port is 37 km. Gennady Fandyushkin, the geologist, tried to find investors for Amaam: Russians, Chinese and Australians visited Chukotka …
In 2010 Australian-based Tigers Realm Coal Ltd (TIG) came to the region with an ambitious objective to become a significant supplier of high-quality coking coal to the seaborne market. Peter Balka, CEO TIG, and the mining engineer by education flew to Chukotka – he had faith in this project:
«We have strong support from our shareholders, they see that Tigers has one of the best coal-mining projects in the world. Moreover, besides the shareholders, there are other interested companies, who are ready to support us in this difficult time of low commodity prices ... However, the main «reserve of buoyancy» is provided by the exceptionally good asset that we have. After all, there is no such other project in the world where coking coal can be mined on the seashore near the port!»
TIG received the license AND01203TP for geological investigation of Levoberezhny site of Amaam North – future "Project F". It needed less investment than Amaam.
First 25 million tons of coking coal from Amaam were set up for the state balance.
TIG received the license AND15813TP for exploration and production of coal on "Project F".
The first drilling machine was bought.
In December first 20 000 tons of high-quality coking coal were produced at "Project F".
226 kt of coking coal produced. 165 kt of coal sold: 123 kt of coking coal and 42 kt of thermal coal.
TIG received the license AND01334T for exploration and production of coal at "Zvonkoe" site.
577 kt of coal produced. 393 kt of coal sold: 219 kt of coking coal and 179 kt of thermal coal.
TIG received its first net profit!
TIG made an agreement with regional public organization "Association of indigenous small-numbered peoples of Chukotka" to support social projects on ethnic culture revitalization.
TIG announced the 1 000 000th ton of coal!
TIG built two 500-tons barges in China and called them "Arinay" and "Keliney" – the names of the lagoon and the mountain. "Arinay" and "Keliney" – are the newest vessels in Chukotka.
TIG signed the agreement with the Government of Chukotka and the Far East investment and Export Agency.
TIG purchased quarry machinery.
750 kt of coal produced. 581 kt of coal sold: 193 kt of coking coal and 388 kt of thermal coal.
TIG financed several social projects total in 4 000 000 rubles.
792 kt of coal produced. 760 kt of coal sold: 158 kt of coking coal and 602 kt of thermal coal.
TIG began its operation in Beringovsky Port without subcontractor.
The motor of the control is – "From the quarry to the port".
Stage 3 is approaching — received the license AND01379TP for geological exploration of Amaam.
TIG supported several social projects of total 1 500 000 rubles.