On August 13, Russia's fourth largest steelmaker MMK Group announced the sale of its 51 percent stake in Bakalskoe Iron Ore Management (BRU) and its 100 percent stake in Rudnik, which owns a license for the development of the Techenskoe field in the Urals.
MMK said it sold the stakes to offshore company Atop International Ltd on satisfactory terms for both sides. The exact terms of the deal have not been disclosed.
MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel.