Bloomberg News

Raspadskaya Slides to Two-Year Low on Report May Miss Target

October 04, 2011

(Updates with closing share price in second paragraph.)

Oct. 4 (Bloomberg) -- OAO Raspadskaya plunged to its lowest in more than two years after Kommersant said the Russian coal producer may miss its output target

The shares slid 13 percent to 78.51 rubles by the 6:45 p.m. close in Moscow, the lowest since July 2009 and the biggest one- day drop since May 2010.

Raspadskaya may produce less than 6.5 million metric tons this year, missing its planned full-year output of 8.5 million tons by 24 percent, Kommersant said, citing analysts’ estimates.

The company produced 400,000 tons of coal a month in July and August, compared with an average 576,000 tons a month in the first half, the Moscow-based newspaper said, citing Metal- Courier data.

--Editors: James Kraus, Alex Nicholson

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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