EquityStory.RS, LLC-News: PJSC Mechel / Key word(s): Miscellaneous
PJSC Mechel : Mechel Doubles Anthracite Output and Sales
2020-12-16 / 12:00 MSK
The issuer is solely responsible for the content of this announcement.
MECHEL DOUBLES ANTHRACITE OUTPUT AND SALES
Mezhdurechensk, Russia - 16 December 2020 - Mechel PAO (MOEX: MTLR, NYSE:
MTL), one of the leading Russian mining and metals companies, reports that
its output and sales of anthracites went up by 83% year-on-year.
In 11 months of 2020, Mechel's anthracite output totaled 1.8 million tonnes,
compared to 980,000 tonnes over last year's first 11 months.
After processing at Southern Kuzbass Coal Company's washing plants, this
coal product is used as high-carbon fuel for ferrous and non-ferrous
industry as well as limestone and sodium carbonate production.
This year Southern Kuzbass Coal Company has shipped off over 1.7 million
tonnes of anthracites. The company makes deliveries by rail and sea.
Southern Kuzbass Coal Company's anthracites are used in Europe (Germany,
Belgium, Luxembourg, France, Turkey) and Asia Pacific (Japan, South Korea,
China, Vietnam). Its consumers are major industrial companies.
"Russia is a leader on the global anthracite market, and our Southern
Kuzbass Coal Company as a key producer makes a major contribution to
maintaining that leadership. We see that demand for anthracites grows
steadily both in the West and in the Eastern export markets. Thanks to our
target-oriented program of equipment revamping, Southern Kuzbass Coal
Company is increasing output of anthracites, and we will make every effort
to meet the needs of our consumers," Mechel Mining Management's Chief
Executive Officer Igor Khafizov said.
***
Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
***
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.
2020-12-16 MSK Dissemination of a Corporate News, transmitted by
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Language: English
Company: PJSC Mechel
1 Krasnoarmeyskaya Street, Moscow, Russia
127006 Moscow
Russia
Phone: +7 (495) 221-88-88
Fax: +7 (495) 221-88-00
E-mail: press@mechel.com
Internet: www.mechel.ru/
ISIN: US5838406081, RU000A0DKXV5
WKN: A2AC1G
Listed: Foreign Exchange(s) Moscow, NYSE
EQS News ID: 1155572
End of News EquityStory.RS, LLC News Service
1155572 2020-12-16 MSK
(END) Dow Jones Newswires
December 16, 2020 04:00 ET (09:00 GMT)