It might not be a secret to anyone that Russia’s coal industry has been pivoting towards Asia – domestic utilization of the country’s vast coal reserves is stagnant at best, however its exports towards China , Japan and other Asia Pacific consumers have been increasing at a constant rate , recurring crises notwithstanding. Yet up until now Russia’s coal industry was functioning in a conventional way, whereby both production and exports were carried out by coal-focused companies, with little to no interference from firms from other segments. Now one of the most peculiar developments in Russia’s coal was the recent takeover of the Elginskoye mine with 2.2 billion tons in total reserves, sold by Mechel to A-Property, a company headed by Albert Avdolyan with no previous exposure to large-scale energy projects and a heavy background in telecommunications/IT. Mechel is one of the ultimate survivors of Russia’s energy scene. Having […]