Korchakolsky Coal Mine

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Korchakolsky Coal Mine (Корчакольский разрез) is an operating coal mine in Malinovka, Novokuznetsky, Kemerovo, Russia.

Location

Table 1: Project-level location details

Mine Name	Location	Coordinates (WGS 84)
Korchakolsky Coal Mine	Malinovka, Novokuznetsky, Kemerovo, Russia	53.4346504932073, 87.2386783436282 (exact)

The map below shows the exact location of the coal mine:

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Project Details

Table 2: Project status

Status	Status Detail	Opening Year	Closing Year
Operating	–	2004	–

Table 3: Operation details

Note: The asterisk (*) signifies that the value is a GEM estimated figure.

Capacity (Mtpa)	Production (Mtpa)	Year of Production	Mine Type	Mining Method	Mine Size (km2)	Mine Depth (m)	Workforce Size
1.7	1.5	2024	Surface	Open Pit	–	60*	670

Table 4: Coal resources and destination

Total Reserves (Mt)	Year of Total Reserves Recorded	Total Resources (Mt)	Coalfield	Coal Type	Coal Grade	Primary Consumer/ Destination
–	–	–	–	Bituminous	Met	Terminal (Export)

Table 5: Ownership and parent company

Note: To access more comprehensive data on energy ownership, please visit the Global Energy Ownership Tracker.

Owner	Parent Company	Headquarters
Kuznetskinveststroy JSC [100.0%]	JSC “Luchshee Reshenie”	Italy

Table 6: Historical production (unit: million tonnes per annum)

ROM or Saleable	2017	2018	2019	2020	2021	2022	2023	2024	2025
Saleable	–	–	1.65	1.63	1.67	1.33	1.09	1.5	–

Expansion/Extension

Table 7: Project status

* Added capacity of a coal mine refers to the enhancement in the mine's production capabilities beyond its initial production capacity.

Status	Status Detail	Project Type	Project Phase	Added Capacity (Mtpa)*	Start Year
Proposed	Announced	Expansion	–	0.8	2025

Note: The above sections were automatically generated and are based on data from the Global Coal Mine Tracker August 2026 release.

Ownership Tree

This ownership tree is part of the Global Energy Ownership Tracker, a project of Global Energy Monitor.

Background

Korchakolsky Coal Mine (Корчакольский разрез) is a surface mine in Malinovka, Novokuznetsky District, Kemerovo, Russia. Korchakolsky coal mine is owned and operated by Kuznetskinveststroy JSC, which is ultimately owned by the Italian Coeclerici Group. In 2002 and 2003, Coeclerici invested approximately USD 18 million to develop the mine as it acquired the right to sell produced coal on the international market.  In 2008, Coeclerici purchased 100% of Kuznetskinveststroy. It was the first investment by a foreign investor in a Russian coal mine.

Kuznetskinveststroy conducts mining operations at the Korchakolsky and Korchakolsky Gluboky subsoil areas located near Kaltan. More than 90% of the coal is exported, according to Kuznetskiveststroy website.

The Italian group reported that in 2022 it 'ceased to carry out all management and coordination activities relating to this company', although the mine continues to operate under the local management. The company has to find alternative financing sources for the implementation of the investment projects such as loans from Russian banks or involvement of a Russian investor.

As of September 2023, it appeared that the company's capacity has increased compared with the previous year: the company's website retrieved in September 2022 referred to production capacity of 1.4 Mt while indicated capacity was 1.7 Mt as of September 2023. The website also stated the company's expansion plan to increase production up to 2.5 Mt by 2025.

2023 production was lower than historical at 1.094 Mt, and the company's annual report referred to the plan to produce 1.5Mt in 2024.

Ownership Change

In November 2024, Italian Coeclerici Group exited the capital of Kuznetskinveststroy JSC. According to the company’s list of affiliated persons dated December 31, 2024, 100% of the shares were transferred to JSC “Luchshee Reshenie” (Moscow), replacing the previous owner, Switzerland-based Coeclerici Commodities S.A. (part of Coeclerici Group). In June 2024, the transaction was authorized under a presidential decree. In late December 2024, the Federal Antimonopoly Service (FAS) granted preliminary approval for the acquisition of rights enabling the exercise of executive management functions in Kuznetskinveststroy.

In July 2025, it was reported that JSC “Luchshee Reshenie” planned to resell the asset in 2025–2026, with the company’s reporting indicating a high likelihood of the transaction. As of February 2026, JSC “Luchshee Reshenie” still owned Kuznetskinveststroy JSC.

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Additional data

To access additional data, including an interactive map of world coal mines, a downloadable dataset, and summary data, please visit the Global Coal Mine Tracker on the Global Energy Monitor website.