MMK | 02 May 2008 г. | 12:25

MMK Becomes a Direct Owner of a 50% Interest in Kazankovskaya Coal Company

MMK Becomes a Direct Owner of a 50% Interest in Kazankovskaya Coal Company
OJSC MMK has acknowledged transfer of title to a 50% share package of ZAO Kazankovskaya Coal Company from OOO MetAl.
The transfer occurred as part of the procedure of a voluntary liquidation of OOO MetAl, a 100% subsidiary of OJSC MMK. The 50% package, earlier owned by MetAl, was transferred to OJSC MMK as the only participant in the company under liquidation.
The liquidation of OOO MetAl is taking place in the context of a plan to optimize the MMK Group’s structure for the purpose of improving the efficiency of the Group’s assets management.
 
Additional Information:
Kazankovskaya Coal Company  is a coal mining enterprise located in the Kemerovo Region and owned on a parity basis by OJSC MMK and Yuzhkuzbassugol Coal Company. Among the assets of Kazankovskaya Coal Company is the Tagaryshskaya Coal Mine with 40 mln tn of grade G coal reserves which produced 926,000 tn of coal in 2007, and a license for mining the Kureinsky section of the Kureinsky Coal Field with prospected reserves of 425 mln tn of K, KS, OS and TS grades’ coals.
 
Source: Metal Supply and Sales
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