Russia's coal
mining company Belon, which is part of the Russian steelmaking group Magnitogorsk Iron and Steel Works (
MMK), has announced that it has completed the sale of its energy coal business, including 100 percent shares of Listvyazhnaya Coal Mine and 100 percent shares of Listvyazhnaya Preparation Plant, to SDS-Coal Holding Company. The deal totaled $280 million in value.
Accordingly, Belon decided to sell its Listvyazhnaya Coal Mine and Listvyazhnaya Preparation Plant as energy coal, which is the core product of these two assets, was not used in the technological chain of
MMK.
Belon said it will further focus on developing its
coking coal segment.