Apr 10 2008
ArcelorMittal confirms it has completed its previously announced acquisition of three coal mines and associated assets in Russia for total consideration of US$718 million.
The Company has acquired a 97.9% stake in the Berezovskaya Mine together with a 99.46% stake in the Pervomayskaya Mine from Severstal. Both mines produce coking coal and are located in the Kemerovo Region.
As part of this agreement ArcelorMittal has acquired the exploration and mining rights to the Zhernovskaya-3 coal deposit, which is a subsidiary of the Pervomayskaya Mine.
As previously announced, the company has also acquired the Severnaya Coal Preparation Plant which is part of the Berezovskaya Mine and three companies that provide the mines with associated services.
Additionally the Company has completed its acquisition of 100% of the Anzherskoye mine in the Kemerovo Region.
Annual production from the three operating mines – which have a combined estimated total reserve of more than 140 million tons - was 3.14 million tons RoM in 2007. The Zhernovskaya-3 coal deposit has an additional estimated reserve of 46 million tons.
Posted April 10th,2008