Severstal estimated losses from accident at Severnaya mine at $4 million

According to the report under IAS for the first quarter of 2016, as a result of the tragic accident at the Severnaya mine in February, the holding company’s losses amounted to $4 million. Half of them ($2 million) was spent to pay compensations to the families of 31 dead miners and 5 rescuers.

Other 2 million of the loss were counted as damage, caused by the loss of the equipment in the exploded mine.

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