Bogatyr Access Komir

Infobox_Company
company_name = Bogatyr Access Komir
company_type = state owned
foundation = 1913
location = flagicon|Kazakhstan Ekibastuz, Kazakhstan
key_people = Viktor Shukin, CEO
num_employees = 20.000 (2006)
revenue = US$ 300 million (2007)
industry = mining

Bogatyr Access Komir (BAK) is the largest coal mining group in Kazakhstan. With a production of 41.6 million tonnes of coal in 2006, it had a share of circa 35% of the country's coal output.

In 1985 the Bogatyr Mine produced 56.8 million tonnes of coal thus entering the Guinness Book of World Records for being the world's largest single coal mine. In 2007, the production of the mine was about 40 million tons of coal. Together with the neighbouring Severnyi mine, the oldest mine in the Ekibastuz coal basin (Pavlodar province), they hold reserves estimated at 4.5 billion ton of coal, which at the current production rate give them a residual lifetime of over 100 years.

The Bogatyr and Severnyi mines are operated by the Russian company United Company RUSAL, who acquired the open-cast coal mines from Access Industries (from USA).

On November 29, 2007, a joint venture was established between UC RUSAL and Samruk-Energo (the energy branch of Kazakh state holding Samruk Holding), to operate the coal mines of BAK [http://en.government.kz/site/news/112007/14] . The rationale for this deal was the intention of the Kazakh government to return coal reserves into state ownership due to their strategic importance for Kazakhstan's electric power sector. On April 16, 2008 it was announced that the price Samruk Energo had to pay to UC RUSAL for a 50-% stake was 345 million USD.

References

1. [http://en.government.kz/site/news/112007/14 http://en.government.kz/site/news/112007/14: "An agreement on establishment of a joint venture between Samruk Holding and UC RUSAL has been signed"]

ee also

* [http://www.bogatyr.kz Official site http://www.bogatyr.kz]