FACTBOX-Foreign investment in Russian coal sector

Wed Nov 11, 2009 3:44pm GMT
 
Email | Print | | Single Page
[-] Text [+]

MOSCOW, Nov 11 (Reuters) - Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity prices rebound.

For related story click on [ID:nLL44886]

Below is a list of some of the major investments and purchase agreements involving foreign companies in Russia, which was the world's third-largest steam coal exporter last year:

FOREIGN INVESTMENTS

* ArcelorMittal ASPA.AS pays $720 million in 2008 to acquire three coal mines from Russian rival Severstal (CHMF.MM) and affiliated parties in western Siberia's Kuzbass basin.

* Italy's Coeclerici acquires the Korchakol mine in the Kuzbass in 2008. The company has been active in the Russian market since the 1960s and exports 3 million tonnes of steam coal from the Arctic port of Murmansk annually.

* Global mining giant BHP Billiton (BHP.AX) and Russia's Norilsk Nickel (GMKN.MM) in 2006 announce an alliance on minerals and exploration and development, focusing initially on western Siberia and northwest Russia. In October, 2009 an executive at the Russian miner says the two companies will start mining an Arctic coking coal deposit in 2015. Initial annual output will total 8 million tonnes, and plans call for later production to reach 12 million to 15 million tonnes per year. [ID:nLG593937]

  Continued...

 

Market Update

  • UKUK
  • USUS
  • Europe
  • Asia
  • UK Most Actives

Most Popular Business News on Reuters UK

  • Articles
  • Videos