02
May
11:29
Severstal completes Vorkutaugol sale
Severstal has completed the sale of its Vorkutaugol coal mining subsidiary to Russkaya Energiya for RUB 15 billion ($210.5 million) after receiving clearance from Russia’s Federal Antimonopoly Service. The steelmaker will remain a consumer of Vorkutaugol coking coals.
The planned sale was initially announced last December (see Kallanish). It will allow Severstal to focus on developing its steel and iron ore assets in line with its strategy, as well as r…
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Anonymous
Very good overview of the weekly steel market.
Anonymous