INTERNATIONAL COAL NEWS

Kopex lands Russian contracts

CURRENCY-weakened Russia is continuing to ramp up coal exports with Polish original equipment man...

Blair Price

Kopex said the three contracts were signed during February to April with financial closure expected in the second half of this year.

Kopex CEO Jozef Wolski said the Russian market was showing signs of recovery from the stagnation of last year.

The Russian ruble effectively halved in US dollar value from July 2014 to February 2015, although it has been on a steady upward trend since then.

The ruble weakness has made Russia’s coal exports very competitive in Asian markets.

Various sanctions imposed on Russia relating to the Ukraine crisis have impacted the ruble, as has the plunge in oil prices.

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