Open Joint Stock Company Belon, part of Magnitogorsk Iron & Steel Works Group (MMK), announced it has completed the sale of its energy business including 100 percent shares of Listvyazhnaya Coal Mine and 100 percent shares of Listvyazhnaya Preparation Plant to SDS-Coal Holding Company. The deal totaled USD 280 million.
Energycoal, whichisthecoreproduct of Listvyazhnaya Coal Mine and Listvyazhnaya Preparation Plant,was not used in the technological chain of MMK. Belonwillfurther focusondevelopingits cokingcoalsegment.
About Belon Open Joint Stock Company Belon is part of Magnitogorsk Iron & Steel Works Group (MMK). Belon’s core activities include mining and processing of coking coal and production of coal concentrate. The company supplies strategically important raw materials to MMK. The Belon group comprises the following companies: Chertinskaya-Koksovaya Mine, Chertinskaya-Yuzhnaya Mine, Kostromovskaya Mine, Novobochatsky Strip Mine, Kostromovskaya Mine, Belovskaya Preparation Plant, Sibgormontazh, Belovopogruztrans, Inskaya Motor Depot, Belon-geologyaCompany and Mikrosfera Company.
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