MEDIA-Russia's Evraz mulls developing its coal business - Vedomosti

May 31 (Reuters) -

* Evraz (LSE: EVR.L - news) , one of Russia's largest steel producers, is studying ways of developing its coal business after streamlining its portfolio of coal assets in the last four years, Evraz Vice President Sergei Stepanov, who heads the Coal Division of the company, told Russian business daily Vedomosti;

* The company aims to boost production of coking coal but has no plans to buy deposits of thermal coal, Stepanov said;

* Moody's said last week that it expects that Evraz will continue to generate a solid positive free cash flow, assuming no major investment projects and shareholder distributions, which will enable the company to gradually reduce its debt;

* Evraz has $1.4 billion on its accounts at the moment, Vedomosti quotes a banking source, which hypothetically allows the company to start acquiring new assets;

* However, new acquisitions will depend on whether they are more profitable than purchases of coal from other producers. -- Source link: http://bit.ly/1TTkXZd -- Note (Stockholm: NOTE.ST - news) : Reuters has not verified this story and does not vouch for its accuracy. (Reporting by Moscow newsroom)