Evraz negotiates on sale of a mine in South Africa

Evraz Highveld Steel and Vanadium is in talks on sale of Mapochs mine in South Africa.
The website of the Evraz’s subsidiary, in which external supervision was introduced in mid-April, reports that applicants for the purchase were selected in July, and the procedure of financial review by potential buyers (due diligence) should be completed by August 21. The evaluation of the bids and the selection of the winner will take place before the end of August.

Evraz is one of the largest vertically integrated steel and mining companies in the world with assets in Russia, the Ukraine, Europe, the USA, Canada and South Africa. In 2014, Evraz produced 15.5 million tons of steel, the company's revenue exceeded $13 billion. The main shareholder of Evraz is Cyprus Lanebrook, which owns 63.25% of the shares. The owners of Evraz are Roman Abramovich (31.81%), Alexander Abramov (21.43%), president of Evraz Alexander Frolov (10.7%), Gennady Kozovoy (5.95%), Alexander Vagin (5.89%) and Evgeny Shvidler (3.06%).

Evraz bought shares of the South African Highveld Steel and Vanadium Corporation Limited from 2006 and increased its stake to 85% in 2009. In summer 2010, Highveld Steel was renamed as Evraz Highveld Steel. On the whole, Evraz spent about $548 million to acquire shares of the company in South Africa.