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Mechel signs long-term coal supply contract with South Korea’s STX corporation

Mechel signs long-term coal supply contract with South Korea’s STX corporation Mechel signs long-term coal supply contract with South Korea’s STX corporation


Baar (Switzerland), October 17 - Neftegaz.RU. Mechel, 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”, Mechel’s Deputy Chief Executive Officer Pavel Shtark commented.

"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”, Shtark noted.