Adonyev to withdraw from ELSI coal project due to sanctions imposed on him
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The co-founder of Yota operator Sergey Adoniev will soon leave the Elga-Sibanthracite UK coal project (or ELSI, it includes Sibanthracite and Elga Coal). About it RBC said a spokesman for the project. The day before he hit to the sanctions list of the US Treasury.
According to an ELSI spokesman, the transfer of ownership is expected “in the shortest possible time”, and the legal process has already begun. At the same time, he did not say to whom the share of Sergei Adoniev would be transferred. Details of the agreement will be disclosed after the completion of the transaction.
Elsie is owned by businessman and creator of Yota Albert Avdolyan. Its coal assets were merged in August 2022. They include Elga Coal (which develops the largest Elga coal deposit in Russia in Yakutia) and Sibanthracite (Siberian Anthracite and Vostochny Mine in the Novosibirsk Region, as well as Kiyzassky Mine in the Kemerovo Region). In October 2022, Mr. Avdoniev became the owner of 31.67% of A-Property Development (controls Sibanthracite).
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