Mechel Conducts Technical Upgrade of Korshunov Mining Plant
April 16 2018 - 8:30AM
Mechel PAO (MOEX:MTLR) (NYSE:MTL)
, one of
the leading Russian mining and metals companies, reports leasing 10
BelAZ trucks in the framework of agreements signed with State
Transport Leasing Company (STLC).
The agreements signed with STLC for supply of
heavy-duty trucks total approximately 900 million rubles. The
financing term is five years. The BelAZ trucks were acquired in the
framework of the program on preferential financing of export
industrial products made in Belarus.
The new mining equipment with a 90-tonne load
capacity arrived at the production site of Korshunov Mining Plant
which is part of Mechel’s mining division. The first six BelAZ
trucks have already been assembled and begun working in the plant’s
Rudnogorsky Open Pit.
According to the company’s technical revamping
program, over 90 mining and auxiliary equipment units, including
trucks and excavators, will be supplied to the Group’s mining
facilities in 2018. In 2017 over 100 new equipment units were added
to the fleet of Mechel’s mining companies.
“We try to use all financial instruments
available to us to fulfill our investment program on increasing our
mining equipment fleet, and we are grateful to our partner, State
Transport Leasing Company, for their constructive approach. New
BelAZ trucks will enable us to begin restoring iron ore mining
volumes at Korshunov Mining Plant,” Mechel Mining Management OOO’s
Chief Executive Officer Pavel Shtark noted.
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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