Kuzbasskaya Toplivnaya Kompaniya PAO (KTK OAO) is a Russia-based company engaged in the coal mining industry. The Company’s principal activities are exploitation and wholesale trade of thermal coal. It operates three open-pit mines: Vinogradovsky, Karakansky-South and Cheremshansky, with a total design capacity of 11 million tons per year. The Company has eight subsidiaries and one affiliated company located across the Russian Federation. It also operates through one branch in Karakan and one representative office in Moscow. The Company is active domestically and abroad, including such countries as: Poland, China, South Korea, Ukraine and Czech Republic. As of May 12, 2010, the Company’s major shareholder was Mizar Management Limited with a stake of 48.42%. In September 2013, the Company launched its second enrichment plant, Kaskad-2, at the Vinogradovsky open-pit mine.