Evrare sold Vysokogorsky GOK

NPPO Ural acquires a new iron ore asset. The company of Vladislav Shacillo will become the owner of a high-horn mining and processing plant.

One of the Sverdlovsk Evraz Group assets, located near Nizhny Tagil, will be sold to HPR Ural for $ 20 million. According to the EVRAZ press service, the transaction will be closed in October of this year. Funds from the sale of the plant will be aimed at the general core targets of the holding.

The press release of the Mining and Metallurgical Company notes that the sale of the High-Russian Chines is carried out in order to optimize the iron ore assets of the holding. This will not affect the plans of the enterprise. This transaction corresponds to the EVRAZ strategy in the mining segment: the company focuses on large low -cost projects. BC currently does not belong to the profile assets of the company, and in the Ural market the plant products may be highly in demand.

In order to normalize the working capital, VGOK EVRAZ will provide the plant with financial assistance in the amount of more than 12 million US dollars. The first payment in the amount of $ 5 million will be made immediately after the transaction is closed, and the remaining funds will be transferred monthly in equal shares over the next two years.

VGOK is one of the largest mining plants in the Urals. The company includes three existing ore mines and an enrichment factory. VGOK mines and enriches iron ore, produces limestone, natural stone, several types of agglomerate and other products.