Evraz Plc EVRAZ optimises Evrazruda's assets (4341W)
December 27 2013 - 2:00AM
UK Regulatory
TIDMEVR
RNS Number : 4341W
Evraz Plc
27 December 2013
EVRAZ optimises Evrazruda's assets
27 December 2013 - Further to its announcement on 20 November
2013 EVRAZ plc (LSE: EVR) announces signing of an agreement with
LLC Ruda Khakasii on the acquisition by LLC Ruda Khakasii of a
number of Evrazruda's iron ore assets and utilities companies
located in the Republic of Khakassia and Kemerovo region, Russia,
for total cash consideration of RUB 10 million (approximately
US$306,000).
The assets include the following iron ore mining and processing
facilities and energy generating units:
- Abakan iron ore mine, Khakassia;
- Teya iron ore mine, Khakassia;
- Mundybash beneficiation plant, Kemerovo region;
- Abaza-Energo, Khakassia;
- Teyskie Energoseti, Khakassia.
According to the management accounts, as at 30 June 2013, their
total gross assets were US$9 million. For the year ended 31
December 2012, these assets produced a total loss before tax of
US$20 million.
The parties have also signed a 10-year agreement on supply of
not less than 150,000 tonnes of iron ore concentrate per month from
the Mundybash beneficiation plant to EVRAZ ZSMK steel mill, as well
as short-term agreements on purchase by Evrazruda of primary iron
ore concentrate produced by the Abakan and Teya mines to ensure
continuity of supply during the transition period. The agreements
are signed on market terms.
The transaction is in line with the EVRAZ strategy to optimise
its iron ore asset portfolio, and is targeted both at reducing
operating losses and at improving Evrazruda's financial
performance.
###
For further information:
Media Relations:
Vsevolod Sementsov
VP, Corporate Communications
London: +44 207 832 8998 Moscow: +7 495 937 6871
media@evraz.com
Investor Relations:
Sergey Belyakov
Director, Investor Relations
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
EVRAZ is a vertically integrated steel, mining and vanadium
business with operations in the Russian Federation, Ukraine,
Kazakhstan, USA, Canada, Czech Republic, Italy and South Africa.
EVRAZ is among the top steel producers in the world based on crude
steel production of 15.9 million tonnes in 2012. In 2012 EVRAZ sold
15.3 million tonnes of steel products. A significant portion of the
company's internal consumption of iron ore and coking coal is
covered by its mining operations. The company's consolidated
revenues for the year ended 31 December 2012 were US$14,726
million, and consolidated EBITDA amounted to US$2,012 million. The
H1 2013 consolidated revenue was US$7,362 million and the H1 2013
EBITDA was US$939 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFEWSMWFDSELE
Evraz (LSE:EVR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Evraz (LSE:EVR)
Historical Stock Chart
From Jul 2023 to Jul 2024