Russian steel maker Severstal announced the closing of a deal to sell Vorkutaugol to Russian Energy, controlled by AEON. The parties will continue cooperation in supplies to Severstal’s steel plant. Severstal sold its only coal asset as part of its decarbonisation strategy for RUB 15 billion. The sale of Vorkutaugol will allow to focus on delivering its strategy to develop its steel and iron ore assets in line with company's vision of the industry’s future and to reduce its carbon footprintThe company received all necessary permits for the transaction from the Federal Antimonopoly Service.Severstal will remain a key consumer of Vorkutaugol coking coals. The terms of the agreement with the buyer include a long-term offtake contract guaranteeing Severstal's supply of raw material. The corresponding agreement has been also signed
Russian steel maker Severstal announced the closing of a deal to sell Vorkutaugol to Russian Energy, controlled by AEON. The parties will continue cooperation in supplies to Severstal’s steel plant. Severstal sold its only coal asset as part of its decarbonisation strategy for RUB 15 billion. The sale of Vorkutaugol will allow to focus on delivering its strategy to develop its steel and iron ore assets in line with company's vision of the industry’s future and to reduce its carbon footprintThe company received all necessary permits for the transaction from the Federal Antimonopoly Service.Severstal will remain a key consumer of Vorkutaugol coking coals. The terms of the agreement with the buyer include a long-term offtake contract guaranteeing Severstal's supply of raw material. The corresponding agreement has been also signed
