21 Oct 2009 19:10

Raspadskaya could boost 2009 coal output 9.5% to 10.3 mln tonnes

MOSCOW. Oct 21 (Interfax) - Russian coking coal producer Raspadskaya could boost coal output 9.5% this year to 10.3 million tonnes, the company said in a presentation.

It said Q3 output was 3 million tonnes and Q4 output could be 3.1 million tonnes.

Coal concentrate sales could rise 10% in 2009 to approximately 7.7 million tonnes.

Investment could total $120 million, including $22 million on new construction.

Raspadskaya cut coal production 10% year-on-year in January-September to 7.19 million tonnes. The company has signed contracts to sell all the coal it produces in the fourth quarter at 2,700 rubles a tonne (approximately $90) FCA Mezhdurechensk for Russian consumers.

The Cyprus-registered Corber Enterprises Limited owns 80% of Raspadskaya, which is one of Russia's biggest coking coal producers. Evraz Group, on the one hand, and Gennady Kozovoi, Raspadskaya's CEO, and Alexander Vagin, the company's board chairman, the other, are the beneficiaries of Corber Enterprises on equal terms. The free float is 20%.