The sum of the deal was not disclosed. Kolmar, the coal producer, may hit IPO by 2011. The plan is still under study by Intergeo, the latter’s representative informs Reuters.
According to Kolmar’s Web site, it possesses permits to develop deposits of 400 m t of coal, planning to become one of the biggest Russian coal producers by 2012 while increasing its reserves up to 700 m t and more, and its annual concentrate output to more than 8 m t . The capitalization by that time is expected to reach $2 bn.