16:54 GMT +314 December 2019
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    Russia’s VostokCoal Decides Against Opening Business in Venezuela

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    Russian VostokCoal company decided to refuse Venezuela’s proposal to acquire a number of coal fields in the Latin American country, a statement released by the company said Friday.

    MOSCOW (Sputnik) — On Wednesday, Venezuelan Ambassador to Russia Carlos Rafael Faria Tortosa told Sputnik that VostokCoal and the Venezuelan Ministry of Environment and Natural Resources were discussing joint projects and would announce their plans in the next few weeks.

    "The VostokCoal company studied proposals of the government of Venezuela regarding the acquisition of a number of coal fields in the country and decide to reject them. According to the Dmitry Bosov, the chairman of the Board of Directors of VostokCoal, the company is first and foremost aimed at developing existing coal enterprises, but does not exclude acquiring of new assets," the statement of the company said.

    VostokCoal was founded in 2012. Accroding to Alexander Isaev, the head of the company, it is expecting to mine 15 million tonnes of coal this year and over 25 million tonnes in 2019.

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    Tags:
    coal, business, Russia, Venezuela
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