Raspadskaya Surges to Two-Month High on Mine Plan

OAO Raspadskaya jumped to its highest in more than two months after the Russian coal producer said yesterday it may restart in a month a mine damaged by blasts.

The stock increased 3.8 percent to 144.15 rubles at the 6:45 p.m. close in Moscow, its strongest since May 31.

The Russian producer of coal for steelmaking may restart the damaged mine at half the volume before explosions in May, Aman Tuleyev, governor of the Kemerovo region where the company is based, told Prime Minister Vladimir Putin, according to Putin’s website yesterday. The blasts killed 90 people.

“Fears over a late restart of the mine no longer seem grounded,” said Marat Gabitov, an equity analyst at UniCredit SpA in Moscow, in an e-mailed report today.

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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