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Mechel increases exports from the Elga coalfield

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World Coal,

According to the memorandum, Mechel will supply its Chinese partners from 2 - 3 million t of thermal coal (up to 250 000 tpm) mined at Mechel’s coal facilities — Elgaugol OOO, Yakutugol Holding Company AO and Southern Kuzbass Coal Company PAO. Supplies will be made starting in December 2016 and until December 2017. Prices will be adjusted on a monthly basis.

“This is the first long-term agreement for the next year that our company has signed since coal prices recouped globally. We are particularly pleased that it involves increase of coal supplies from Elga, a new flagship of Russia’s coal industry in the Far East. With this contract, Jidong Cement becomes the top foreign consumer of Elga’s products,” Mechel Mining Management OOO’s Chief Executive Officer Pavel Shtark noted.

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China coal news