The Evraz Group is reported to have signed an agreement with Japan’s Mitsui Co to establish an independent enterprise that will be responsible for the development of the Denisovskoe coal deposit in Yakutia. The deposit has K brand coking coal reserves estimated to be around 70 to 80 million tons. The two companies will invest around US$240 million to set up the infrastructure as well as shafts needed to mine the coal. Production at the undeveloped mine is expected to start in the second half of this year with full capacity of 2.4 million tons annually being reached by 2008. The bulk of the production will be exported to the Japanese market. (Aug. 9)