Trust Arktikugol is the only operation to use specially minted coins for use on Spitsbergen. In 1946 the Russians circulated coins struck at the mint in Leningrad that, according to the local Russian consul, had been used in their mining settlements between 1946 and 1957. Four coins, 10, 15, 20, and 50 kopek, make up a complete set, with measurements of 22, 25, 20 and 22 mm. respectively. The 10 & 15 kopeks are of aluminium-bronze, 20 and 50 kopeks are made of nickel. They all had milling.

Obverse: APΚTИКУГОЛЬ = Arctic Coal (on top) (value in center) КОЛEEК = Kopek (on bottom)

Reverse: OCTPOB = Island (on left) 1946 (in center) ШЛИЦБEPГEHE = Spitsbergen (on right)

Svenska Stenkolsaktiebolaget Spetsbergen, operating mines at Svea in 1921 were also in control of these claims, which were later sold to a Russian company in 1926.

Russky-Grumant, a Russian company, purchased these claims in 1926, but then sold them in 1931 to the Soviet state.

Trust Arktikugol acquired Pyramiden in 1931 and is the name of the mining town on the coal claim. Russians began construction for mining in 1939, but were interrupted by war. They resumed in 1946/47, with coal production following shortly thereafter. After World War II the Russians planned to have Pyramiden their main establishment on Spitsbergen. They moved their administration and consulate to Pyramiden about 1946, but soon moved back to Barentsburg. In the 1960's coal production from Pyramiden was approximately 250,000 tons annually. Around the late 1980's Pyramiden had about 1,100 inhabitants. It is 31 mi. (50 km.) north of Longyearbyen.

Scottish Spitsbergen Syndicate Ltd. of Edinburgh. By the late 1920's or early 30's the only coal production on Svalbard was by the Norwegians and Russians. The only other foreign interest was 114.53 sq.mi. belonging to the Scottish Spitsbergen Syndicate, across from Pyramiden on the upper eastern side of Billefjord. They also had many other claims of recognized gypsum and anhydrite bearing grounds, originally claimed in 1906 by W. S. Bruce. The Scottish Spitsbergen Syndicate Ltd. mined coal and quarried gypsum. They closed down in 1927 and sold to the Norwegian state in 1952.