The Russian mining and steel producing company Evraz Group (Evraz) has announced that it has terminated negotiations regarding the possible divestment of its subsidiary Stratcor, a US-based vanadium division of Strategic Minerals Corporation.
The decision was taken after a comprehensive analysis of Evraz's strategic options in relation to Stratcor, acquired by Evraz in 2006 when it bought Strategic Minerals Corporation for $110 million.
Evraz's current statement followed the recent press publications regarding the possible sale of Stratcor. According to media statements, Evraz was going to sell Stratcor within one year in order to cut its debts.