Skip to main content

Mechel signs long-term coal supply agreement with Itochu

Published by
World Coal,


Mechel PAO, a leading Russian mining and metals company, has signed a long-term coal supply agreement with a major Japanese universal trading company Itochu Corp.

The agreement stipulates that Mechel is to supply Itochu Corp. with up to 300 000 t of washed thermal coal produced at Southern Kuzbass Coal Company’s New-Olzherasskaya mine. The price will be determined by mutual agreement without reference to any particular formula.

Japan’s major cement and power facilities will be the end consumers of Mechel’s products.

“Our company highly appreciates the level of cooperation with our Japanese partners. Over the past two years, we shipped coal to Itochu Corp. on spot contracts, and signing a long-term agreement is a logical next step in our partnership. Today Japan’s market accounts for about 20% of Mechel’s coal exports, and we expect to increase this figure in the near future,” Mechel Mining Management Company OOO’s CEO Pavel Shtark commented.

Read the article online at: https://www.worldcoal.com/coal/06112017/mechel-signs-long-term-coal-supply-agreement-with-itochu/

You might also like

OSIsoft webinar

WEBINAR: The hidden value of digital transformation in coal mining

In this webinar, OSIsoft will highlight some aspects of a successful digital transformation journey and discuss the top priorities that mining executives are looking for. They will also see how mining companies around the world benefit from real-time operational data to improve their safety results & their asset reliability and to optimise their operations. Register for free today »

 
 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Russia coal news