Topics of Russian Coal during April to June

摘要

On April 22, Mechel PAO sold a 51% interest in Elga Coal Complex consisting of Elga coal mine and so on, a metallurgical and thermal coal mine in the Republic of Sakha to A-Property OOO. The sellout amount of the interest was RUB89 billion. In addition, A-Property paid down the debt held by Mechel amounting to US$107 million to Vnesheconombank (VEB) in return for acquisition of the said interest. Elga Coal Complex consists of Elga coal mine and Ulak-Elga Railroad for transportation of coals produced at the said coal mine. Mechel sold a 49% interest in Elga Coal Complex to Gazprombank AO on 28 June 2016. And, the company parted with the whole interest in the said complex this time by selling another 51% interest.