Mechel doubles production and sales of anthracite
Mezhdurechensk, Russia - December 16, 2020 - Mechel PAO (MICEX: MTLR, NYSE: MTL), leading the Russian mining and metallurgical company reports an increase in anthracite production by 83% compared to the same period in 2019.
For 11 months of 2020, about 1.8 million tons were produced, for the same period last year, this figure was 980 thousand tons.
After processing at the Yuzhny Kuzbass concentrating plant, coal products are used as high-carbon raw materials for ferrous and non-ferrous metallurgy, as well as for the production of limestone and soda.
Since the beginning of the year, Yuzhny Kuzbass has shipped over 1.7 million tons of anthracite products. Delivery to customers is carried out by rail and sea transport. Anthracites of "Southern Kuzbass" are used in Europe (Germany, Belgium, Luxembourg, France, Turkey) and in the Asia-Pacific region (Japan, South Korea, China, Vietnam). The consumers of our products are large industrial companies.
“Russia occupies a leading position in the world anthracite market, and our enterprise“ Yuzhny Kuzbass ”, as one of the key manufacturers of these products, makes a significant contribution to strengthen this leadership ... We see that the demand for anthracite continues to grow steadily both in the west and in the eastern export directions. Thanks to the targeted equipment modernization program, Yuzhny Kuzbass is increasing the production of these products, and we will make every effort to meet the incoming requests of our consumers, ”said Igor Khafizov, General Director of Mechel Mining Management Company LLC.
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Mechel PAO Ekaterina Videman Tel .: [email protected]
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Mechel is a global mining and metals company. The company's products are supplied to Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore, steel, rolled products, ferroalloys, heat and electricity. All businesses operate in a single production chain: from raw materials to high value-added products.
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Certain statements in this press release may contain assumptions or forecasts regarding future events or the future financial performance of Mechel PAO in accordance with the provisions of the 1995 US Securities Litigation Reform Act. We would like to warn you that these statements are only assumptions and the actual course of events or results may differ materially from those stated. We do not intend to revise or update these statements. We refer you to the documents that Mechel periodically submits to the US Securities and Exchange Commission, including the Form 20-F annual report. These documents contain and describe important factors, including those identified in the "Risk Factors" section and "Note on the forecasts contained in this document" in Form 20-F. These factors could cause material differences between actual results and our assumptions and forecasts regarding upcoming events, including but not limited to achieving the anticipated level of profitability, growth, cost and efficiency of our recent acquisitions, the impact of competitive pricing, the ability to obtain the necessary regulatory approvals and confirmations. the state of the Russian economy, the political and legal environment, volatility of stock markets or the value of our shares or ADRs, financial risk management and the impact of the general business situation and global economic conditions.
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