MMK to sell its unprofitable coal mines.
Edited by Rhod Mackenzie / 2014-11-17 07:03:25
Coking Coal Finance Metals and mining Russia Magnitogorsk metallurgic plant MMK Russia Metals and Mining Coal Steel
"Belon" will have only one mine left.
In early 2015 the "Belon" Coal Company, part of the MMK, may close a deal to sell two unprofitable mines in the Kemerovo region with reserves of 51 million tons of coking coal. After that "Belon" will have only one mine left. In 2008 the company beginning the consolidation at the peak of prices, MMK would like to increase its supply of coal. But in recent years it has become more profitable to buy the falling in price raw materials on the market.
