In March 2018 the company E.CONNECT ASSETS has finalized acquiring of the coal-mining company Mine Rostovskaya Ltd. in the town Gukovo in Rostov Oblast, Russia.

Industrial reserves of the mine Rostovskaya amount to 40 million tons, out of which 2.5 million tons are at the moment prepared for the extraction. Productive capacity of the mine equals 600 thousand tons per year. The dip slope of the mining field measures up to 8.2 kilometers in stretch and 2.8 in depth. In disposition of the mine there are 4 coalbeds of 0.85 to 1.05 meters in thickness. Out of four coalbeds one is being used at the moment for extracting the anthracite. Mining operations are conducted at a depth of 200 – 500 meters.

Delegation from the E.CONNECT ASSETS has been to the mine with a working visit, as a result of which the decision has been made to invest in the company in order to fulfill its potential. The plan to achieve this includes: restoring the above and underground complex of the mine and the coal transportation system, enabling pumping out the water definitively, resuming active excavations, acquiring new mechanized excavating and extracting, as well as concentrating equipment.

At the moment the coal mine Rostovskaya is being maintained in the state of sustentation of excavating and pumping out the water. Resumption of the works in the mine is planned for the II-III quarters of the year 2018. E.CONNECT ASSETS through the investments plan to create over 1000 jobs at the mine Rostovskaya and to achieve the production level of 600 thousand tons per year.

Since the first day of the Group’s work in the region, leadership conducts regular meetings with the government of Rostov region, where current issues of reconstruction and further development of the mines are discussed.

About 5 million euros have been invested into the acquisition and reconstruction of the mines Rostovskaya and Zamchalovskaya. Further investments into development of the mines are estimated to amount to about 50 million euros.