Mining industry veteran Owen Hegarty says his Siberian coking coal venture is poised to capitalise on China's blacklisting of Australian coal, as it embarked on an exquisitely timed $43.5 million fundraising on Wednesday.

ASX-listed Tigers Realm Coal has been mining on Russia's Pacific coast for three years and Mr Hegarty said the surge in Chinese demand for Canadian and US coal to fill the gap left by the Australian ban was also extending to Siberia.