Tue, 11 Oct 2011
Russian producer of coking coal OAO Raspadskaya may produce less than 6.5 million tonnes this year, missing its output target by 24% percent, Kommersant reported, citing analysts’ estimates.
Raspadskaya produced 400,000 tonnes of coal a month in July and August versus average 576,000 tonnes a month in the first half, the Moscow-based newspaper said, citing Metal-Courier data.
The company will probably miss its full-year output target of 8.5 million tonnes, according to the newspaper.
Raspadskaya had a market value of about USD 2.2 billion yesterday, while steelmaker Evraz Group SA and Raspadskaya management have been seeking to sell the company for more than $5 billion in the first half of the year, Kommersant said.
(sourced from Bloomberg)
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