Russia-based A-Property, an investment company engaged in the strategic investments and recovery of distressed assets, has announced the completed consolidation of Sibanthracite, a major global producer and exporter of ultra-high grade anthracite and metallurgical coal.While the conditions of the acquisition were initially agreed in October 2021, the value of the transaction has not been disclosed by the time of publication. Accordingly, A-Property Razvitie has become a 100 percent shareholder of Sibanthracite with its subsidiaries Siberian Anthracite, Razrez Vostochny in Novosibirsk region and Razrez Kiyzassky in Kuzbass region. In 2021, Sibanthracite increased its production by 28% YoY to 22.6 million tonnes. Meanwhile, in 2021 the company’s shipments to its main market, China, rose by 18% to 8.4 million tonnes, while its shipments to India and South Korea increased by 51% and 38%, respectively, year on year. In February this year, the company announced its target to raise its shipments to China by 30% YoY to 11 million tonnes
Russia-based A-Property, an investment company engaged in the strategic investments and recovery of distressed assets, has announced the completed consolidation of Sibanthracite, a major global producer and exporter of ultra-high grade anthracite and metallurgical coal.While the conditions of the acquisition were initially agreed in October 2021, the value of the transaction has not been disclosed by the time of publication. Accordingly, A-Property Razvitie has become a 100 percent shareholder of Sibanthracite with its subsidiaries Siberian Anthracite, Razrez Vostochny in Novosibirsk region and Razrez Kiyzassky in Kuzbass region. In 2021, Sibanthracite increased its production by 28% YoY to 22.6 million tonnes. Meanwhile, in 2021 the company’s shipments to its main market, China, rose by 18% to 8.4 million tonnes, while its shipments to India and South Korea increased by 51% and 38%, respectively, year on year. In February this year, the company announced its target to raise its shipments to China by 30% YoY to 11 million tonnes
