The tender was held on 7 December and organized in a professional manner by the authorized agent, VTB Capital. The proposal submitted by Siberian Anthracite for the shares of VCSP was lower than the highest bid of RUB 15.5 billion made by Mechel-Trans.

Siberian Anthracite’s decision to participate in the tender was driven by the company’s growing production volumes and increasing exports. Exports of UHG anthracite to the Asia-Pacific region in 2011 accounted for more than 60% of the Company’s total export volumes.

«Siberian Anthracite is interested in purchasing its own port facilities or establishing strategic partnerships with major logistics companies that manage port assets in the Far East region,» said Dmitry Shatokhin, Chairman of the Board of Directors of Siberian Anthracite. «We will continue to research the market in search of attractive investment projects, as we need to secure the capacity to handle growing export volumes of UHG anthracite.»

About Siberian Anthracite

Siberian Anthracite is one of the world’s largest producers of ultra high grade (UHG) anthracite. The company carries out open-pit mining at deposits in the Gorlovsky coal basin in the Novosibirsk region of western Siberia. In late 2006 Siberian Anthracite launched a  10-year investment programme to create a world-leading UHG anthracite mining and processing facility with capacity of 9.5 million tons. To date, the company has upgraded and constructed the new extraction, processing and transport infrastructure. Its fleet of mining equipment and machinery substantially overhauled and expanded. Run-of-mine anthracite volumes have almost tripled since 2009, reaching 3.4 million tonnes in 2011.

www.sibanthracite.ru

Maria Grigoreva
Head of Public Relations
+7 495 956 35 33
MGrigoreva@sibanthracite.ru

Tom Blackwell
M:Communications
+7 495 363 28 41
blackwell@mcomgroup.com

Peter Morley
M:Communications
+44 7725 757 046
morley@mcomgroup.com