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Timchenko’s Kolmar to Boost Coal Output Fivefold, Eyes Seaport

Kolmar, a Russian coal miner controlled by billionaire Gennady Timchenko and the Gunvor Group trading company that he co-founded, plans to invest more than $500 million to boost output fivefold.

Kolmar is seeking to produce 6 million metric tons of coal in 2015 compared with 1.2 million tons last year, Arkady Ostrovskiy, the producer’s investment director, said in an interview in Moscow.