Mechel has signed a three-year contract with South Korea’s POSCO Corporation for the supply of coking coal

Under the agreement signed April 30, 2013, the subsidiary company "Mechel Carbon" POSCO will supply 500 million tonnes of coking coal annually.

In addition, "Mechel Carbon" also entered into an annual contract with POSCO for delivery in 2013, 200 thousand tons of coal PCI. The delivered price of coal in the period of the agreement will be determined on a quarterly basis.

"This agreement — another confirmation of the long-term and reliable comprehensive partnership" Mechel "with POSCO, one of the world’s leading steel companies. The contract with POSCO was another step in the implementation of the strategy of "Mechel" for the development of cooperation with the world’s largest steel producers and market diversification. Under conditions of high volatility in the markets long-term agreement with POSCO and several other large consumers would "Mechel" ensure stable orders its coal mines, which will strengthen the company’s position as one of the world’s largest producer of metallurgical coal, "- said General Director of "Mechel Mining" Boris Nikishichev.

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