Russian steel producer Evraz (HK1q.L) has won back the licence to the Mezhegei coal field in Russia’s Tuva Republic via a 950 million rouble ($31.70 million) bid at a government auction.
The press release is quoted as saying:
Evraz, part-owned by billionaire Roman Abramovich, bid $725 million for the field two years ago, but the licence lapsed after the company failed to develop the field.
