Raspadskaya Coal Company (Raspadskaya), the second largest coking coal producer in Russia, has informed that it has received the decisions of the Russian Federal Antimonopoly Service (FAS) in respect of the legal proceedings initiated against it by the FAS on July 9, 2010.
Accordingly, the main decision regards the mandatory development and agreement of a sales policy document within two months by Raspadskaya in association with the antimonopoly authority, Raspadskaya said.
"The company has always sought to develop a transparent sales policy understandable to the consumers of its coal products. Therefore, it is not expected that adoption of this document may negatively affect the operational and financial performance of the company. Moreover, Raspadskaya believes that the main provisions of the agreed document will enable the company to consider market trends in new long‐ and short‐term contracts with the key consumers," reads Raspadskaya's statement.
As SteelOrbis previously reported, on July 8 this year FAS decided to initiate legal proceedings against Evraz, Raspadskaya Coal Company and Severstal for abusing their dominant positions in the coal market. On March 14, FAS founded Evraz's coal subsidiaries and Raspadskaya Coal Company's sales subsidiary Raspadsky Ugol guilty of violating antimonopoly legislation by charging different prices for coking coal concentrate depending on the customer.