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Evraz splits its coal, iron ore mining assets into two units

Keywords: Tags  Evraz, coal, iron ore, mining assets, Roman Abramovich, Nadia Popova

MOSCOW — Russia’s Evraz Group has separated its iron ore and coal mining divisions to "intensify the management of key product groups," the company said Thursday.

Evraz, co-owned by billionaire Roman Abramovich, is set to become Russia’s largest coal producer after closing a deal to double its 41-percent stake in coal miner Raspadskaya OJSC, which is expected by year-end.

The coal division, which will include Evraz’s Yuzhkuzbassugol unit in Russia’s Ural Mountains, will be headed by Sergei Stepanov, the former chief executive officer of Russian gold producer Nordgold NV.

The iron ore division will include Evraz’s Kachkanarsky GOK and JSC Vysokogorsky GOK ore mining and processing enterprises in the Urals and JSC Evrazruda in Siberia.

The division will be headed by Marat Atnashev, Evraz’s vice president for major projects, who will keep his current duties after taking the new role.

A version of this article was first published by AMM sister publication Steel First.


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