Severstal May Add $40 Million To Its Annual EBITDA

One of the largest Russian steel companies Severstal may buy a controlling stake in British company Berkeley Resources, which conducts exploration and development of uranium projects in Spain.

Investments will be decided after the procedure of due diligence, which will run till December 10.
Principal during the due diligence will be the question of reopening of the plant for the production of uranium concentrate.

The most optimistic scenario is if the plant will be quickly started and will begin production - the asset may add about $ 40 million or 1-1,5 percent to an annual EBITDA of Severstal.