Bloomberg News

Gunvor Says No Plans to Buy Russia’s Second-Largest Coal Miner

February 03, 2012

Feb. 3 (Bloomberg) -- Gunvor Group Ltd., the global commodity trader part-owned by Russian billionaire Gennady Timchenko, has no plans to acquire OAO Kuzbassrazrezugol, Russia’s second-largest producer of coal for power stations.

Gunvor hasn’t been in talks with Kuzbassrazrezugol, Anton Kurevin, a Moscow-based spokesman for Gunvor, said in an e- mailed response to questions today.

Gunvor is completing the previously announced acquisition of the Kolmar coal project in eastern Siberia and is not considering any further coal purchases, he said.

Andrei Bokarev, chairman and co-owner of Kuzbassrazrezugol, couldn’t be reached for comment.

--With assistance from Yuliya Fedorinova in Moscow. Editors: Stephen Cunningham, Amanda Jordan.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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