Metinvest affiliate Pokrovske Coal output rises 17% in 9M20

Private joint stock company Pokrovske Coal produced
4.28 mmt of raw coking coal (15.6 kt per day) in 9M20, a 16.9% yoy rise,
according to Concorde Capital’s analysis of Energy Ministry data.

In 2019, Pokrovske Coal produced 5.0 mmt of coal (13.7
kt per day), a 25.8% yoy jump.

Metinvest (METINV), Ukraine’s largest steelmaker, owns
25% of Pokrovske Coal assets, and recently received permission
from the Antimonopoly Committee of Ukraine to consolidate the remaining 75%.

Dmytro Khoroshun: The
annualized 9M20 production volume amounts to 5.72 mmt (14% more yoy), in line
with the 5.5-5.8 mmt we expected
in the beginning of the year.