NLMK suspends coal projects development.

The NLMK Group (JSC "NLMK") has suspended the development of coking coal deposits in "Usinsk- 3" and "Zhernovsk -1" areas due to low prices for this raw material. Instead NLMK plans to increase iron ore production at the Stoilensk mining and refining plant, the "Vedomosti" newspaper has reported.

"The greenfield projects on coking coal mining have been frozen," - the CEO for Strategy of NLMK ,Konstantin Arshakuni stated in an interview with Bloomberg. The company's website states that it has two such projects in active development phase, "Usinsk- 3" located in the Republic of Komi and "Zhernovsk -1" in Kemerovo.