Neryungri, Russia – September 22, 2021 – Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports signing a contract for coal supply with Far-Eastern Energy Company (part of RusHydro Group).
The contract stipulates supplies of thermal coal to Neryungrinskaya Power Station for uninterrupted generation during the heating season. From October 2021 to March 2022, Mechel will supply approximately 360,000 tonnes of coal. During the last winter season, Mechel has provided Neryungrinskaya Power Station with a similar amount.
“We have been working together with Far Eastern energy providers for decades, and this new contract only strengthens this longstanding partnership. Approximately 10-12% of thermal coal sold by Mechel’s mining division goes to Far Eastern Energy Company. The company confirmed their interest in our coal, and we in our turn are ready to provide them with coal of requisite quality,” Mechel PAO’s Chief Executive Officer Oleg Korzhov noted.
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