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Mechel Signs Long-Term Coal Supply Contract with South Korea’s STX Corporation

Baar, Switzerland – October 17, 2019 – Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, announces signing a memorandum for coal supply with STX Corporation, an Asian universal trade major.

According to the document, in January-December 2020 Mechel is due to supply STX Corporation with up to 1.2 million tonnes of coking and thermal coal from Mechel’s Southern Yakutia facilities and PCI from its Southern Kuzbass Coal Company.

“We continue with successful implementation of our strategy of diversifying our supply flow to Asia Pacific’s promising markets. Guaranteed sales enable us to ensure optimal load on our coal facilities and plan our logistics ahead. We also agreed that our STX partners will act as mediators in finding new potential clients for Mechel’s coal products among steelmakers and power companies, as well as other industries,” Mechel PAO’s Deputy Chief Executive Officer Pavel Shtark commented.


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.