Albert Avdolyan’s A-Property company has announced its intention to combine the management of its coal assets with ElgaUgol LLC and Sibanthracite.
In order to do make this change, a management company OOO UK Elga-Sibanthracite (ELSI) will be created. The new company Elga-Sibanthracite Management Company LLC will enter the top three Russian coal mining companies in terms of coal production and transportation. The post of general director will be taken by Alexander Isaev.
The Elga coal complex includes a group of companies for the extraction, enrichment, transportation and sale of high-quality coking coal. In 2020 and 2021, the Elga project consistently ranked first in terms of production growth among all coal companies in Russia. Last year, ElgaUgol doubled coal production compared to 2020, to 14.7 million t of coal. In 2022, the company plans to mine and ship 20 million t of coal, and the target by 2023 will reach 45 million t of coal.
The Sibanthracite Group is a coal mining company that mines and exports high-quality anthracite and other metallurgical coals. The volume of production of the Sibanthracite Group in 2021 amounted to 22.6 million t: 14.6 million t of anthracite and 8 million t of metallurgical coal. Over 90% of Sibanthracite supplies are exported. Against the background of growing demand in international markets, production volumes are planned to be significantly increased in the next three years.
Alexander Isaev will be appointed head of the united structure of Elga-Sibanthracite Management Company LLC (ELSI). At the moment, he holds the position of General Director of Sibanthracite Management Company and Elga Coal Management Co. LLC.
According to the main shareholder of A-Property Albert Avdolyan, the management team led by Alexander Isaev has established itself as a world-class anti-crisis management.
“Production at the Elginskoye field in April 2022 amounted to more than 2 million t. This is a new maximum monthly production in the entire history of the development of the field. The systematic growth of production volumes and the achievement of new records has continued since the arrival of a new team at Elga. Now Alexander Isaev’s team faces even more serious challenges.”
Read the article online at: https://www.worldcoal.com/coal/02092022/a-property-to-merge-the-management-of-its-coal-assets/