Mechel sells a share in Elga coal project
Edited by Rhod Mackenzie / 2015-03-16 05:51:49
The largest coking coal producer in Russia “Mechel”, which is next door to bankruptcy, is about to attract funds for its debt reduction and sell the minority interest in the Elga project, Reuters reports.
“The company holds negotiations with strategic investors on the sale of a minority stake in “Elgaugol” LLC and maps out to attract a significant volume of financing to reduce its debt burden and for active development of new production and development of the deposit,” is stated in the report of “Mechel-Mining”.
