Mechel will supply coal to Neryungrinskaya GRES
Neryungri, Russia - September 22, 2021 - Mechel PAO (MOEX: MTLR, NYSE: MTL), a leading Russian mining and metallurgical company, announces the signing of an agreement on the supply of coal with JSC Far Eastern Generating Company (JSC DGK, part of the RusHydro Group).
The contract provides for the supply of thermal coal to Neryungrinskaya GRES for uninterrupted passage of the heating period. From October 2021 to March 2022, about 360 thousand tons of coal will be shipped. During the last winter season, the company sent a comparable volume of products for the needs of Neryungrinskaya GRES.
“Our cooperation with the power industry of the Far East has been going on for more than a decade, and the next agreement only strengthened this long-term partnership. Approximately 10-12% of thermal coal sold by Mechel's mining division is supplied to DGK. The company has confirmed its interest in our coal, and we, in turn, are ready to provide them with products of proper quality, "said Oleg Korzhov, General Director of Mechel PAO.
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PAO Mechel Ekaterina VidemanTel .: +7-495-221-88-88ekaterina.videman@mechel.com
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Mechel is a global mining and metallurgical 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 enterprises operate in a single production chain: from raw materials to products with high added value.
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Some statements in this press release may contain assumptions or projections regarding forthcoming events or 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 Annual Report on Form 20-F. 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 effectiveness 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, the 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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