Sibuglemet continuing transformation, head of trading company appointed

(technical repeat)

MOSCOW. March 18 (Interfax) - Andrey Tarasko has been appointed acting general director of Sibuglemet-M (a Sibuglemet asset) effective March 17, according to the SPARK-Interfax system.

According to the official website of the holding, Sibuglemet-M specializes in activities of agents in wholesale trade of bituminous coal of coking and thermal grades.

Sibuglemet-M was previously managed by LLC Sibuglemet Group, controlled by VEB.RF, which owned almost 71% of the holding's management company. Until early March, the management company was called Holding Sibuglemet LLC, after which it was renamed New Mining Management Company LLC (NMMC).

In mid-March, Sibuglemet Group withdrew from the management company, and its share were to the managers of NMMC: Andrei Kobyakov (starting on March 16 he became the General Director of NMMC), Igor Gorin, Tarasko and Dmitry Krovnov (over 17.6% each).

The mining assets managed by NMMC are located in the Kemerovo Region. The group includes the Mezhdurechye and Yuzhnaya open-pit mines, the Antonovskaya and Bolshevik mines, and the Mezhdurechenskaya and Antonovskaya washing plants with a total processing capacity of 12 million tons of coal a year. Also under the management of NMMC are JSC PVV (producing explosives) and JSC Sibuglemet (a trading structure). However, according to the company's website, Sibuglemet-M was not managed by Holding Sibuglemet LLC, which was renamed NMMC in early March.

VEB has been trying to sell the asset for a long time; the last initial selling price was 122.9 billion rubles.

At the end of February, VEB was subject to U.S. blocking sanctions; along with the state corporation, 25 of its subsidiaries, including Sibuglemet Group LLC, were included in the SDN list.