Russia-based A-Property, an investment company engaged in the strategic investments and recovery of distressed assets, has announced the completed consolidation of Sibanthracite, a major global producer and exporter of ultra-high grade (UHG) anthracite and metallurgical coal.
While the conditions of the acquisition were initially agreed in October 2021, the value of the transaction has not been disclosed by the time of publication. Accordingly, A-Property Razvitie has become a 100 percent shareholder of Sibanthracite with its subsidiaries Siberian Anthracite, Razrez Vostochny (Novosibirsk region) and Razrez Kiyzassky (Kuzbass region). In 2021, Sibanthracite increased its production by 28 percent year on year to 22.6 million mt. Meanwhile, in 2021 the company’s shipments to its main market, China, rose by 18 percent to 8.4 million mt, while its shipments to India and South Korea increased by 51 percent and 38 percent, respectively, year on year. In February this year, the company announced its target to raise its shipments to China by 30 percent year on year to 11 million mt.
In addition, A-Property owns PJSC Yakutsk Fuel and Energy Company, Almaz Group of Companies, Elgaugol, Management Company Elgaugol, Elga-Road and Elga-Trans.