Platts reported that Russian steelmaker SeverStal is in discussions with the senior management team at its US based, majority owned SeverCorr subsidiary regarding the ownership structure of the mill.

Severstal in a statement said that "Discussions between the two sides are ongoing and an agreement is expected to be reached shortly. Further details would be provided at that time.”

Severstal added that “Operations at SeverCorr will not be impacted by the pending agreement.”

SeverStal recently announced that it will consolidate SeverCorr after which it will own 75% of the business. The remaining shares are currently held by the SeverCorr management team and other strategic investors.

SeverCorr is the newest US steelmaker. The flat products mini mill, constructed at Columbus in Mississippi, reached full operational status within the past month.