The Ukrainian steel group Donetskstal has denied reports that it has made a proposal to ArcelorMittal, the world's largest integrated metals and mining company, to create a joint venture for the production of coking coal at the Karagaylinskaya mine located in Russia's Kemerovo region (Kuzbass), or to sell 50 percent of the mine to ArcelorMittal.
Donetskstal also said that currently it is implementing a successful investment project at the Karagaylinskaya mine.
"No negotiations are taking place in relation to the sale [of the mine] or the creation of a joint venture, and the respective proposals for ArcelorMittal do not exist," reads the company's statement.