Dusseldorf, Germany – August 29, 2019 – Mechel PAO (NYSE: MTL, MOEX: MTLR), one of the leading Russian mining and metals companies, reports signing a major contract for coke and coal supplies with the international trading company Steel Mont.
According to the agreement, before the end of 2020 Mechel will supply Steel Mont with up to 700,000 tonnes of products, including up to 350,000 tonnes of metallurgical coke produced by Moscow Coke and Gas Plant and up to 350,000 tonnes of PCI and anthracites produced by Southern Kuzbass Coal Company. The supplies will be shipped by sea through Port Mechel-Temryuk in Krasnodar Region as well as Russian ports in the North and Baltic Seas.
“We expect the demand for metallurgical coals and coke to remain stable despite global commodity market volatility. We are glad to see Steel Mont among our committed partners. This contract will enable Mechel to increase exports of our mining division’s output in the nearest accounting periods,” Mechel PAO’s deputy Chief Executive Officer Pavel Shtark noted.
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