NERYUNGRI, RUSSIA / ACCESSWIRE / 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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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.
SOURCE: PJSC Mechel