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Miner to Double Output

By The Moscow Times

Raspadskaya will pay in excess of $1 billion to more than double output in five years, it said Tuesday.

The company plans $976 million of capital spending and $54.8 million for maintenance through 2015. Output will reach 18.5 million tons in 2015, up from 7.2 million last year.

The producer of coal for steelmaking fell from Russia's second to fifth biggest after blasts at its main mine that killed 90 people in May. It shut its main mine for seven months and halted exports after the explosions. The company plans to resume shipments abroad this year.

(Bloomberg)

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