ArcelorMittal comes from Russia
Foreign steelmakers one after the other reduce the own presence in Russia. Alcoa made the first step by announcing the sale of its businesses in Belaya Kalitva. It was followed by ArcelorMittal. Disposing of assets in Russia, the company decided to sell the «Severny Kuzbass». Coal company was acquired by the company for 720 million. USD in 2008. ArcelorMittal could not develop the acquired asset, coal production at the plant by 2013, fell 3 times. However, the decisive factor in the decision was the conflict between Ukraine and Russia.
After India's leading company out of Russian coal assets, «Northern Kuzbass» go to the «National Fuel Company.» NTC will become a complete package of shares of Kuzbass Holdings BV, which owns 98.64% of «Northern Kuzbass». At the end of March there is a change of board of directors at a meeting of the new shareholders.
By the beginning of last year, assets of the mines «Day» and «Berezovskaya» included in the «Northern Kuzbass» totaled 156.5 million. Tonnes of coking coal. According to some sources, in general, stocks of companies with undeveloped sites in the order of 300 million. Tons of coal. «North» and is concentrating factory of the Company. In 2013, the amount of coal mined was 1.2 million tons, the profit was at the level of 2.95 billion RUB, the losses -… 1.44 billion RUB.
When buying assets from «Severstal» Lakshmi Mittal expected to increase the self-sufficiency of ArcelorMittal coal to 15%, which would strengthen its position in the Russian market. However, as a result, coal production decreased from 3 million. Tons of almost 3 times. Until the end of September last year, the company's shares owned by ArcelorMittal Holdings AG, then moved to the right Kuzbass Holdings BV Nesna Valery, CEO of STC, confirmed the agreement reached with ArcelorMittal.
Until 2011, he was Ukrainian Metallurgical Plant «of ArcelorMittal Kryviy Rih» the main buyer of goods «Northern Kuzbass». Then, the volume of supply decreased because the Ukrainian company found other suppliers. According to sources, the search for buyers of assets ArcelorMittal beginning year and a half ago, after activating their Crimean conflict. It is believed that the NTC acquires assets on equal footing with financial partners, but there is no more specific information available.