ArcelorMittal to bid with Alrosa - world's biggest coal field
ArcelorMittal, the biggest steelmaker, will bid in an auction for the world's largest untapped coking coal deposit together with Russian diamond monopoly ZAO Alrosa.
By Agencies |
MOSCOW: ArcelorMittal, the biggest steelmaker, will bid in an auction for the world's largest untapped coking coal deposit together with Russian diamond monopoly ZAO Alrosa.
The two companies will participate in the October 5 auction via a Russian-registered venture, ZAO Yakutskaya Ugolnaya Kompaniya, said Nikita Prokopiev, spokesman for the regional government of Sakha, where the field is located.
Russian steel and coal producer OAO Mechel will bid together with Sumitomo, Japan's third-largest trading company, Prokopiev said by phone today.
The third bidder is a Russian- registered company called OOO Kolor Partner that represents foreign investors, Prokopiev said.
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