Anglo American shrinks trading unit as part of major restructuring
The miner also announced internally that it will no longer enter into long-term deals to buy commodities that it doesn’t already produce.
The head of Russian bank VTB Andrey Kostin said on Wednesday the lender would discuss a debt restructuring request by mining firm Mechel with its other creditors, Sberbank and Gazprombank.
“No one intends to harass Mechel,” Kostin told reporters on the sidelines of an economic forum in the city of Vladivostok in Russia’ Far East.
Coal and steel producer Mechel, controlled by Russian businessman Igor Zyuzin, has asked its creditors for more time to make its debt repayments.
(By Vladimir Soldatkin, Gabrielle Tétrault-Farber and Polina Ivanova; Editing by Jason Neely)
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