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Severstal exits US coal business with sale of PBS Coals


Severstal exits US coal business with sale of PBS Coals

Report summary

Russian steelmaker Severstal announced 15 July 2014 that it will sell its US metallurgical coal mining subsidiary, PBS Coals, to Corsa Coal Corp. of Toronto in a deal valuing PBS at US$140 million. Corsa will pay US$60 million in cash, assume US$60 million in reclamation and water treatment liabilities and will fund US$20 million in cash that Severstal has posted as reclamation bonding collateral.

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This report includes 1 file(s)

  • Severstal exits US coal business with sale of PBS Coals PDF - 963.49 KB 2 Pages, 0 Tables, 1 Figures

Description

This Metallurgical Coal Inform report highlights the key issues surrounding this topic, and draws out the implications for those involved.

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