Raspadskaya Increases Coal Reserves by 26%, Interfax Reports

OAO Raspadskaya, a Russian coking coal producer, increased its coal reserves by 26 percent last year, Interfax reported, citing the company’s memorandum for a planned eurobond sale.

The coal producer had 1.314 billion tons of reserves at the end of 2011, up from 1.046 billion tons a year earlier, the news service said.

The company cut its 2015 production target to 16.7 million tons, from an 18.5 million-ton forecast published last year, Interfax said.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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