The Russian state-owned company Arktikugol, which specializes in the extraction and exploitation of coal, is studying the possibility of entering the Moroccan market, in order to deal with the crisis that the country is going through, Russian media announced. From August 10, the 27 member countries of the European Union can no longer import Russian coal.
This decision taken by the EU comes after the Russian-Ukrainian conflict. The Russian newspaper “Neft Gaz” reported that in the presence of sanctions, the mining company Arktikugol is looking for other markets, which led the Russian state to consider establishing trade with Morocco, Egypt and Turkey in the field of coal.
In this context, the director of the company, Neferov Ivanovich, said that “there have been no sales so far this year,” expressing his hope to develop new logistical methods to market Russian coal in other markets. “There is a Moroccan market and an Egyptian market. There is China and India, admittedly the distance is great, which is not always profitable, but work is being actively carried out and I am sure we will find a solution,” Neferov added.
Neft Gas said that the Board of Directors of Arktikugol intends by the end of 2022 to completely restructure its business policy, adding that the next step is to find shipping companies capable of shipping and exporting coal. It should be noted that Arktikugol Mining Company sells about 120,000 tons of coal per year.
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