Vorkutaugol

Information Technology in Severstal

Main article: Information technology in Severstal

History

2021: Russian Energy bought Vorkutaugol for 15 billion rubles

On December 2, 2021, Severstal announced the sale of Vorkutaugol JSC to Russian Energy (co-owners - billionaire Roman Trotsenko (70%) and company CEO Andrei Tasto (30%)) for 15 billion rubles. It is planned to close the transaction in the first quarter of 2022 after obtaining relevant permits from the Federal Antimonopoly Service of the Russian Federation, as well as fulfilling a number of other conditions. The buyer plans to finance the transaction at the expense of own and borrowed funds.

Russian Energy acquired Vorkutaugol for 15 billion rubles

Severstal CEO Alexander Shevelev said that the company will direct funds from the sale of Vorkutaugl, including to achieve the goals of the decarbonization strategy. Severstal plans to continue buying Vorkutaugl coal: the deal involves the conclusion of an appropriate long-term contract with Russian Energy.

The sale of Vorkutaugol will allow us to concentrate on the implementation of our strategy aimed at the development of steel and iron ore assets in accordance with our vision of metallurgy of the future and a consistent reduction in the carbon footprint, "Shevelev said.

Vorkutaugol is one of the largest coal mining companies in Russia. It accounts for about 11% of the country's coking coal production. By the beginning of December 2021, Vorkutaugl includes five underground mines and one coal mine in the Pechora coal basin. At the end of 2020, the company produced 10.3 million tons of coal and produced 4.7 million tons of concentrate. In 2021, the task was to produce 11 million tons and produce 5.3 million tons of concentrate. Almost all products (4.6 million tons) are sent to the Severstal Cherepovets metal plant. At the same time, by 2023, Vorkutaugol planned to increase the production of concentrate to 5.9 million tons.^[1]

Notes