NLMK refused to develop coal areas in Kuzbass

NLMK returned licenses for the development of the Zhernovsky coal deposit in the Kemerovo Region. Company acquired in 2005 and in 2011 two sites in Kuzbass - Zhernovsky-1 and Zhernovsky Gluboky with reserves of 163.3 and 72.6 million tons of coal, respectively. Development plan for the field envisaged production of 3 million tons of coal per year. However, NLMK failed to bring the economic indicators of the project to the target values.