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Mechel Signs Partnership Agreement with Rosgeo

Vladivostok, Russia September 05, 2019 Mechel PAO (NYSE: MTL, MOEX: MTLR), one of the leading Russian mining and metals companies, reports signing an agreement of intent on partnership in mineral resource management with AO Rosgeo. The ceremony was on the sidelines of V Eastern Economic Forum, with the agreement signed by Rosgeos Chief Executive Officer and Chairman of the Board Sergei Gorkov and Mechel PAOs Chief Executive Officer Oleg Korzhov.

According to the agreement, the sides voiced their intent to join forces in seeking, appraising and exploring new highly profitable mineral resource deposits and their further development.

The document also provides for a possibility of Mechel and Rosgeo creating joint ventures in order to seek out, assess and develop mineral deposits.

The two sides also agreed to consider various options for actualizing, reassessing and additional exploration of suspended fields and bringing them into production.

“Rosgeo’s unique experience and state-of-the-art digital solutions the company uses will enable us to explore our mineral resources and develop promising deposits in the Far East Region more efficiently. I am sure that our bilateral ties will have a positive impact on Russian mining industry’s further development,” Mechel PAO’s Chief Executive Officer Oleg Korzhov noted.


Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88


Mechel is an international mining and steel company. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.


Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.


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