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Tigers Realm Coal sells Russian coal business for $49 million

Australian coal company Tigers Realm Coal (TIG), which is engaged in the mining and export of coking and thermal coal, announced that it will sell its operations in Russia.

Tigers Realm Coal sells Russian coal business for $49 million

Tigers Realm Coal (TIG) announced that it will sell its coal business in Russia for $49 million. The sale includes the assets of mining company Beringpromugol, management company Beringugolinvest and North Pacific Coal Company, located in the southwest of the Chukotka Autonomous Region.

The buyer will be APM-Invest, a company owned by Russian entrepreneur Mark Buzuk. The transaction is subject to the approval of TIG shareholders, the Federal Antimonopoly Service and the President of Russia, and payments will be made within 30 days of closing.

TIG was interested in developing the Fandyushkinskoye field, the Verkhne-Alkatvaamskoye and Zvonkoye coal fields, as well as the Amaamskoye coking coal field. Last year, production reached 1.6 million tonnes and net profit reached 27.4 million dollars.


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