print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Mechel press releases

Mechel

April 15, 2013

Mechel announces signing agreement with Baosteel

Beijing, China — April 15, 2013 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces signing a memorandum of understanding with Baosteel Resources Int. Co. Ltd.

During the official visit of Russia’s First Deputy Prime Minister Igor Shuvalov to Beijing, Mechel Group and Baosteel Resources Int. Co. Ltd signed a memorandum of understanding. Mechel’s Vice-President for Commercial Activities Mikhail Urvantsev, who was part of Russia’s official delegation, signed the document on behalf of Mechel.

The memorandum stipulates that Mechel OAO, through its subsidiary Mechel Carbon Singapore will supply Baosteel Resources with up to 960,000 tonnes of coking coal annually. The price will be corrected monthly.

In addition, the memorandum allows for implementation of joint projects in mining resources on the territory of the Russian Federation, People’s Republic of China and third countries. The sides will consider the possibility of cooperation on other fields as well, including the possibility of collaboration with the economic development institutes of the Russian Federation and the People’s Republic of China.

“Baosteel Resources is an important partner for Mechel. We managed to achieve mutually profitable ties on coking coal supplies, based on the principles of mutual trust and benefit. Considering the current situation in the coal market with its high price volatility, we need guarantees of long-term and stable supplies. The contract with Baosteel Resources gives us precisely that opportunity,” Mechel OAO’s Chief Executive Officer Evgeny Mikhel noted.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer