October 14, 2008

Mr Baskakov appointed as GD of SDS Coal

It is reported that Mr V Baskakov former SUEK Kuzbass director general was elected as the director general of SDS Coal. This appointment is explained by the acquisition of Prokopyevskugol which requires good specialists for the managing.

Novolipetsky Metallurgic Plant sold Prokopyevskugol to the minicipal entity for USD 1. Then, all assets of the Company were transferred to Siberian Business Union which now includes 6 coal entities as well apart from the coal assets of the above Company.