Koks, the metallurgical coke producing subsidiary of Russia's Industrial Metallurgical Holding (IMH) has sold 79 percent in its Vanady-Tula subsidiary to Novokuznetsk-based steel producer Siberian Mining-Metallurgical Company (SGMK) for an undisclosed amount.
Vanady-Tula produces about 9,000 mt of ferrovanadium annually, accounting for a 15-18 percent share of the world's market for ferrovanadium and a 70 percent share of Russia's ferrovanadium market.
The main reason for the sale of the company is its current lack of profitability.