Steel concern Evraz wants to consolidate its coking coal assets in Russia. The company intends to become one of the world's leading suppliers of coal to the steel industry.
The basis for the consolidation is the Raspadskaya mine (the largest in Russia), owned by the Yuzkuzbasugol concern. Evraz will pay 67.7 billion rubles for the assets.
As a result of the deal, the Evraz production complex will include seven deep mines, two open pits, three processing plants in the Kemerovo region and one mine in Tuva. The new company's coking coal reserves are estimated at 1.9 billion tonnes.
According to Evraz's presentation, the company's revenues from the coking coal segment after consolidation will amount to $ 2 billion. annually. This means that the company will become one of the five largest producers of this raw material in terms of revenue. Second only to BHP, Teck, Anglo American and Coronado.
According to Russians, the combined company (27% of coking coal production in Russia) will be able to quickly increase its production and market share.
Evraz is a British steel group. However, it operates in the countries of the former USSR, the USA, Canada and South Africa. The main shareholder of the company is Roman Abramovich, one of the richest Russians.
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