KRU

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KRU, the acronym for Kuzbassrazrezugol, is the second largest Russian coal company.

A research report by the German investment analysts, Raiffeisen Research, outlined that the "had a total coal output of 46.3 million tonnes (mt) in 2007, including 5 mt of coking coal. In 2007 KRU exported approx. 46% of its output (which is approx. 25% of the Russia's total coal exports), mainly to Europe and South East Asia. KRU operates 17 coal fields with 11 open pit mines, all concentrated in the Kemerovo region of Russia (the Kuzbass Basin)."[1]

A November 2007 presentation to investment analysts by the President of BHP Billiton Coal, Dave Murray, noted that Drummond had an 3% share of the global coal export trade, making it the ninth largest coal exporter in the world.[2]

Ownership

The company, according to Raiffeisen Research, is "controlled by private individuals and managed by UGMK-Holding, beneficially owned by its president, Russian businessman Iskander Makhmudov".[1]

Articles and Resources

References

  1. 1.0 1.1 Alexander Sklemin, "Kuzbassrazrezugol", Corporate Bonds, April 11, 2008.
  2. Dave Murray, "BHP Billiton Coal CSG Anlayst Visit: Hunter Valley Energy Coal", BHP Billiton, November 2nd, 2007.

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