Reuters reported that Russian electricity producer OGK 3 has won a tender to develop a coal field with reserves of 33.8 million tonnes over the next 20 years.

The report said the deposit in the Republic of Buryatia in Russia, makes up one section of the larger Okino-Klyuchevsky coal field which has 200 million tonnes of reserves and is about 120 kilometer from OGK-3's Gusinoozersky power station.

Mr Sergei Tazin executive director of OGK 3 told Reuters in an interview this month that his company plans to spend USD 200 million on coal assets and licenses over the next two to three years in order to supply around half its own demand.

The Russian electricity industry has ambitious plans to shift away from gas toward coal which the government hopes will account for 35% of the sector's fuel balance in the coming decade compared to around 15%.

OGK-3, which is controlled by metals major Norilsk Nickel owns six power stations across the country with a combined generating capacity of 8.5 gigawatts.