The Ukrainian mining and steel producing group Metinvest has announced that it has secured additional long-term supply of high-grade coking coal by investing in production cooperation and acquiring up to 24.99 percent of some coking coal assets in Ukraine, in line with its strategic priority of improving its self-sufficiency in coking coal to strengthen its vertical integration.
Accordingly, the assets include several extraction, enrichment and sale entities, including Pokrovskoye Mine Group and Sviato-Varvarinska Enrichment Plant, both belonging to Ukraine-based Donetsksteel Group and which together form the largest coking coal extraction and production business in Ukraine. They are located on the border of the Dnipro and Donetsk regions, close to Metinvest enterprises. Total consideration for this stake is approximately $190 million.