Evraz wants to increase coke coal mining

“Large purchases have been ended, now the company is betting on organic growth,”- the former vice-president for finance of Evraz Giacomo Baizini said in June 2012, after in 2005-2010 Evraz spent an average of $1.6 billion per year for the purchase of assets and $700 million for capital expenditures. Since then, there were no purchases, said a representative of Evraz. The only exception is the increase in the share in Raspadskaya from 50% to 100% in 2013. But the deal was paid not in cash, but in shares of Evraz.

Now Evraz again changes its course. The company will explore opportunities to expand the coal business, Evraz’s vice-president and head of the division "Coal" Sergei Stepanov told the Vedomosti. According to him, over the past four years, the company has optimized the portfolio of coal assets, sold or closed several companies, almost completely withdrawn from the production of steam coal and greatly improved the efficiency. Since 2012, Evraz sold Abakansky and Teysky mines, together with several other non-core assets for 10 million rubles, the Gramoteinskaya mine for 10 000 rubles, Vysokogorsky GOK for $20 million, the Yubileinaya mine for $1 and froze the Abashevskaya mine.

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