Evraz Group SA, Russia’s second-largest steelmaker, sold its stake in the Cape Lambert Iron Ore project in Western Australia.
Moscow-based Evraz, whose controlling shareholders include Russian billionaire Roman Abramovich, sold 60 million shares in Cape Lambert Iron Ore Ltd., the Australian company said in a statement today released by the local stock exchange. The shares were bought by U.K. and Australian investors.
Evraz spokesman Sergei Lavrinenko confirmed the company exited the project in a phone interview today. Vice President Pavel Tatyanin said on an April 28 conference call that the company would sell its stake, Lavrinenko added.
SourcE: Reuters
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