Severstal Makes ‘Strategic’ Decision to Separate Nord Gold Unit
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OAO Severstal, Russia’s second-biggest steelmaker, said it will separate its Nord Gold unit, after shelving a plan for an initial public offering this year.
“Strategically we made a decision to separate gold,” Chief Executive Officer Alexey Mordashov said today in an interview in London. “It has no synergy with steel and steel-related mining.”