Severstal reports Q3 and 9 months 2011 operational results

Severstal, JSC, one of the world’s leading vertically integrated steel and mining companies, announced its operational results for Q3 and 9 months 2011. As of October 2011, Severstal starts reporting average prices instead of volume weighted average prices. The data for the previous periods has been restated.

Severstal JSC, is one of the world’s leading vertically integrated steel and steel related mining companies, with assets in Russia and the USA, in Ukraine, Latvia, Poland, Italy, Liberia and Brazil. Severstal’s gold business, Nordgold was established in 2007 and comprises mines and exploration projects in Russia, Kazakhstan, Burkina Faso and Guinea. Severstal is listed on RTS and MICEX and the company’s GDRs are traded on the LSE. Severstal reported revenue of $13,573 million and EBITDA of $3,263 million in 2010. Severstal’s crude steel production in 2010 reached 14.7 million tons.