Metinvest subsidiary Pokrovske Coal output rises 18% in 4M21
26 May 2021
Private joint stock company Pokrovske Coal produced
2.21 mmt of raw coking coal (18.4 kt per day) in 4M21, an 18.1% yoy rise,
according to Concorde Capital’s analysis of Ukraine’s Energy Ministry data.
In 2020, Pokrovske Coal’s output was 6.13 mmt of raw
coking coal (16.8 kt per day), a 22.6% yoy rise. 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, in
March increased its effective interest in the so-called Pokrovske coal
business, which includes Pokrovske Coal, to a controlling stake.
Dmytro Khoroshun: Pokrovske
Coal’s 2021 output will amount to 6.9-7.7 mmt (19-21 kt per day), or 13-25%
more yoy, we continue to expect.
We maintain our neutral view on METINV bonds.
