Shares of Raspadskaya Mine Increased 55 Times
The company's shares rose on news of a 55-fold increase in Raspadskaya's net profit - to 43 billion rubles - in the first nine months of 2021 compared to the same period last year.
On August 20, Raspadskaya shares rose almost 40 percent in a day after news of a nearly 70 percent increase in earnings for the year to $ 181 million. At the end of September, the company paid dividends to shareholders in the amount of 23 rubles per share (yield - 5.66 percent). JSC Raspadskaya operates the largest Russian coal mine, Raspadskaya, located in the Kemerovo region.
In recent months, a global coal shortage has arisen due to the closure of coal mines in China and soaring gas prices. In early October, Germany's electricity producer Steag shut down the Bergkamen-A power plant after it ran out of coal reserves. The company explained the shortage of coal by the high demand for it and the rise in the cost of barge transportation.
According to experts, the closure of the Steag plant is the first sign that Europe will have to rely on windy weather and productive wind turbines to supply electricity to homes. It is unlikely that coal will save the energy industry, which is suffering from a shortage of natural gas.