It has been reported by various sources that the world's largest steel producer ArcelorMittal may participate in the auction for the acquisition of several coal assets in the Russian republic of Sakha Yakutia, which was postponed from August to October of the current year.
According to the reports, Baker & MacKenzie is acting on behalf of ArcelorMittal in preparing all documents necessary for acquiring stakes in the Elgaugol and Yakutugol coal mines.
Currently, ArcelorMittal does not own any coal assets.
Russian groups Mechel and ALROSA, Swiss company Glencore, Japan's Sumitomo and Mitsui, as well as South Korea's LG International, have all been identified among the other prospective participants.