Evraz sells off coal mine for £195

FTSE 250-listed Russian steelmaker Evraz yesterday confirmed it has agreed to sell the Gramoteinskaya thermal coal mine to Lehram Capital Investments for just 10,000 roubles (£194.50), as part of its strategy to divest non-performing assets. The mine posted pre-tax losses of $19m (£11.9m) last year. Evraz is focusing on developing coking coal mines and sees thermal coal mining as non-core to its business strategy.