Sibanthracite wants to increase production by 20% by 2025
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The new owner of Sibanthracite, the Bashkir Industrial Holding, intends to increase the company’s production by 20%, to 30 million tons, by 2025. The deal to purchase the company from Albert Avdolyan was closed last week, the amount was not disclosed. Mr. Avdolyan bought Sibanthracite in 2021 for $1 billion.
Sibanthracite plans to increase production by 20% to 30 million tons by 2025, a source close to the company told Kommersant. Sibanthracite confirmed these production plans.
Company last week changed owner – the new owner was the Bashkir Industrial Holding (BPH), unknown on the market. According to SPARK-Interfax, the owners of BPH are Oleg Polyakov (71%), Vanik Vanunts (20%) and Alla Zotova (9%). Oleg Polyakov is a co-owner of NIPI NG Peton LLC, one of the largest players in the EPC projects market in the oil and gas industry.
The previous owner of Sibanthracite was the structures of Albert Avdolyan. Mr. Avdolyan bought asset in 2021 for $1 billion. He explained the decision to sell Sibanthracite with the intention to focus on the development of the Elga coal deposit and the construction of infrastructure for coal export.
“BPH sees great potential in the coal sector, so it decided to invest in the acquisition of Sibanthracite. The initiator of the deal was BPH,” said a Kommersant source close to the coal company.
Sibanthracite is the world’s largest producer and exporter of high-quality Ultra High Grade anthracite, as well as other metallurgical coals and PCI. The company’s mining assets are located in the Novosibirsk region, where Razrez Kolyvansky JSC and Razrez Vostochny LLC are located, and in the Kemerovo region, where Razrez Kiyzassky LLC and Razrez Verkhneteshsky LLC operate. In 2023, licenses were acquired for two more sites in Kuzbass – Open-pit mine Kuznetsky Yuzhny LLC and Open-pit mine Malinovsky.
In 2022, Sibanthracite enterprises collectively received 270.2 billion rubles. revenue is 1.6 times more than a year earlier. The total net profit of enterprises amounted to 49.75 billion rubles, having decreased by 3% year-on-year, as follows from the enterprises’ reporting under RAS. The company does not disclose consolidated financial statements.
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