Raspadskaya Q4 Coking Coal Sales Volumes Up 40Pct-Shanghai Metals Market

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Raspadskaya Q4 Coking Coal Sales Volumes Up 40Pct

Industry News 09:06:41AM Jan 15, 2013 Source:SMM

MOSCOW Jan 14 (Reuters) - Russian coking coal miner Raspadskaya said on Thursday it sold 1.37 million tonnes of coking coal concentrate in the fourth quarter of last year, 40 percent up from the previous three months.

Evraz, part-owned by billionaire Chelsea soccer club owner Roman Abramovich, plans to take control of Raspadskaya in an $800 million deal which will make the steelmaker self-sufficient in coking coal and turn it into Russia's largest producer of the steel ingredient.

Evraz already had effective control of the coal miner with a 41 percent stake held through a holding company and expects to takes its holding to 82 percent in the fourth quarter.

In October, Raspadskaya reported an 8 percent drop in quarterly concentrate sales figures.

 

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Raspadskaya Q4 Coking Coal Sales Volumes Up 40Pct

Industry News 09:06:41AM Jan 15, 2013 Source:SMM

MOSCOW Jan 14 (Reuters) - Russian coking coal miner Raspadskaya said on Thursday it sold 1.37 million tonnes of coking coal concentrate in the fourth quarter of last year, 40 percent up from the previous three months.

Evraz, part-owned by billionaire Chelsea soccer club owner Roman Abramovich, plans to take control of Raspadskaya in an $800 million deal which will make the steelmaker self-sufficient in coking coal and turn it into Russia's largest producer of the steel ingredient.

Evraz already had effective control of the coal miner with a 41 percent stake held through a holding company and expects to takes its holding to 82 percent in the fourth quarter.

In October, Raspadskaya reported an 8 percent drop in quarterly concentrate sales figures.