***TIMELINE: The Raspadskaya explosions

The following is a timeline of the events that occurred following two explosions that crippled the Raspadskaya coking coal mine in Russia on May 9.

The following is a timeline of the events that occurred following two explosions that crippled the Raspadskaya coking coal mine in Russia on May 9.

May 9

Explosion rips through Raspadskaya’s main mine at 12:55am. 359 people were inside the mine at the time of the incident, according to local press reports. Four hours later, a second explosion takes place at the mine, killing 19 rescue workers.

May 11

Russian prime minister Vladimir Putin, deputy prime minister Viktor Zubkov and Emergencies Minister Sergei Shoigu visit the site of the explosions with Kemerovo region governor Aman Tuleyev.

May 12

Magnitogorsk Ion & Steel (MMK) writes to overseas customers, telling them it will offer less hot rolled coil for export in June. A source with knowledge of the situation then confirms that the company will withdraw its slab exports in June.

May 13

Analysts say that Raspadskaya blasts could create coking coal shortages for Ukrainian steelmakers, which source “significant” amounts of the raw material from Russia.

Evraz says it will source coal from its Yuzhkuzbassugol mine for its Nizhny Tagil (NTMK) works to make up for a shortdall in supply from Raspadskaya.

Russian media says death toll has risen to 66.

Credit ratings agency Fitch places Raspadskaya on Rating Watch Negative, expressing concern that the miner’s credit rating could be negatively affected if the mine remains closed and increases borrowing.

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