Kolmar Deals Gives Access to 400mn Tonnes
Russian coal miner, Intergeo, controlled by billionaire tycoon Mikhail Prokhorov's Onexim, has bought Siberian coking coal producer, Kolmar. No details have been given of the financial details of the deal, or the vendor.
"It is a great acquisition which will allow us to diversify the portfolio of assets," Intergeo's president, Maxim Finsky, said in a statement on Wednesday.
"High-quality coking coal is in good demand on the market right now and the upward pricing trend has only begun," he added.
Kolmar has reserves of over 400 million tonnes of coal in Southern Yakutia.
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