Mechel Prolongs Coal Supply Contract With China’s Jidong Cement
19 Décembre 2018 - 1:00PM
Mechel PAO (MOEX: MTLR; NYSE:
MTL), one of the leading Russian mining and metals
companies, reports prolonging the contract for coal supply with
China’s Jidong Cement, one of the world’s top cement producers,
until the end of 2019.
According to the agreement, during this year
Mechel will supply its Chinese partners up to two million tonnes of
thermal coal mined at the company’s South Yakutia facilities,
Elgaugol OOO and Yakutugol Holding Company AO. Monthly supplies
will vary from 100,000 to 150,000 tonnes of coal products. Prices
will be adjusted on a monthly basis following negotiations and on
the basis of index rates.
“This is a third major contract signed by Mechel
and Jidong Cement. I am sure that our ties will continue to develop
in a constructive manner in the future. It is also important to
note that Jidong Cement is a key customer of Elga’s thermal coal in
Asia — in 2017 we supplied our Chinese partners with 1.9 million
tonnes and another 1.4 million in 2018. In 2019 we plan to export
thermal coal from Elga in comparable volumes,” Mechel Mining
Management OOO’s Chief Executive Officer Pavel Shtark
commented.
Mechel PAOEkaterina VidemanTel: + 7 495 221 88
88ekaterina.videman@mechel.com
Mechel is an international mining and steel
company. Its products are marketed in Europe, Asia, North and South
America, Africa. Mechel unites producers of coal, iron ore
concentrate, steel, rolled products, ferroalloys, heat and electric
power. All of its enterprises work in a single production chain,
from raw materials to high value-added products.
Some of the information in this press release
may contain projections or other forward-looking statements
regarding future events or the future financial performance of
Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to
caution you that these statements are only predictions and that
actual events or results may differ materially. We do not intend to
update these statements. We refer you to the documents Mechel files
from time to time with the U.S. Securities and Exchange Commission,
including our Form 20-F. These documents contain and identify
important factors, including those contained in the section
captioned “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in our Form 20-F, that could cause the
actual results to differ materially from those contained in our
projections or forward-looking statements, including, among others,
the achievement of anticipated levels of profitability, growth,
cost and synergy of our recent acquisitions, the impact of
competitive pricing, the ability to obtain necessary regulatory
approvals and licenses, the impact of developments in the Russian
economic, political and legal environment, volatility in stock
markets or in the price of our shares or ADRs, financial risk
management and the impact of general business and global economic
conditions.
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