Parent company Joint Stock Company «Coal company «Kuzbassrazrezugol» and Joint-Stock Company «Ural Mining & Metallurgical Company» (UMCC) visit KRU OVERSEAS Limited at Cyprus

news-20211008

At October 4-7, 2021, KRU OVERSEAS Limited hosted at its office in Limassol representatives of the parent company Joint Stock Company «Coal company «Kuzbassrazrezugol» and Joint-Stock Company «Ural Mining & Metallurgical Company» (UMCC).

During the visit, the directors of KRU OVERSEAS Limited reported to the parent company on the preliminary results of the company’s work in 2021.

As a part of the transformation process carried out by the management company UMMC, the session on strategic planning of the work of the company JSC “CC “Kuzbassrazrezugol” until 2030 was held.

The participants of the session discussed such issues as:
• Forecasts of the development of the global coal market, the balance of supply and demand in the medium and long term.
• Decarbonization of the global world economy and transition of consumers to renewable energy. Prospects of the European and Asia-Pacific market until 2030.
• Planning of coal production and supply by JSC “CC “Kuzbassrazrezugol” to coal mining enterprises until 2030.
• Construction of modern processing plants for the supply of low-ash concentrate of semipro and metallurgical coal.
• Strengthening the position of JSC “CC “Kuzbassrazrezugol” as the world’s largest supplier of PCI coal in international markets.
• Logistical constraints on the development of coal supplies, including at the Eastern Landfill.
• Cross-border carbon regulation.
• Integrated planning of processes within the company in order to balance sales, production and logistics to maximize the marginality of coal sales.
• Implementation of ESG principles into the Group’s development strategy.
• Promotion of the principles of Better Coal in the coal industry of Russia within the frameworks of mining of JSC “CC “Kuzbassrazrezugol”

The session participants paid special attention to the discussion of climate change and environmental protection, as well as the social policy of the UMMC Group of Companies and the development and implementation of the HR strategy of JSC “CC “Kuzbassrazrezugol”.

The session participants discussed the concept of a large-scale business transformation with the aim of becoming the “greenest” producer and supplier of Russian coal that meets the highest international standards.