Mechel Reports Extending Major Coke Export Contract
January 15 2019 - 7:00AM
Mechel PAO (MOEX: MTLR; NYSE: MTL), a leading Russian
mining and metals company, reports prolonging its agreement on coke
supplies to Turkey’s steelmaking holding Kardemir.
According to the agreement, from January to
December 2019 Mechel will supply the Turkish company with 200,000
tonnes of metallurgical coke produced at Moscow Coke and Gas Plant.
Compared to the previous deal, the amount of supplies to Kardemir
will go up by nearly 70%. Coke will be shipped via Port Mechel
Temryuk in Russia’s Krasnodar Region.
The price will be determined on quarterly basis
following negotiations.
“Over 9 months of 2018, we increased coke
exports by 16%. We managed to achieve this result partly due to our
partnership with Kardemir. With this new agreement, our ties will
continue to develop just as efficiently,” Mechel Mining Management
OOO’s Chief Executive Officer Pavel Shtark said.
Turkish companies consume about 6 million tonnes
of coke annually, with Turkey’s coke producers accounting for
approximately 5 million tonnes and the remainder imported from
abroad.
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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