Armenian Billionaire to Create Third Largest Coal Company in Russia

The Armenian businessman Albert Avdolyan, residing in Russia, has acquired the Elga coal mine in Yakutia from Russia's leading mining company Mechel. Avdolyan has now decided to consolidate his coal assets, combining "Эльга Уголь" and "Сибантрацит," as reported by RBC.

It should be noted that the businessman is included in Forbes' list of the 200 richest entrepreneurs in Russia, ranking 115th, with an estimated net worth of $1 billion.