As reported, the companies are expected to develop the Syradasai deposit in a project that could produce as much coking coal for the steel industry. The Syradasai deposit is about 63 miles from the port of Dikson on the Kara Sea.

Nikolai Matyushenko, deputy director of production development at Norilsk’s transport department, is quoted by Reuters as saying: “From 2015, we intend to mine 8 million tonnes and then to increase it to between 12 million and 15 million tonnes.”

Mr Matyushenko added that the companies plan to build a shipping terminal which could handle vessels with capacity of around 70,000 deadweight tonnes. The project sees construction of infrastructure like processing plant and power station at the deposit.