Russia: Mechel to increase coal output

This year Mechel coal output plan envisages the increase to 20-25 million tons. “Last year the output dropped by 9% YoY, to 18.8 million tons. Thus, the optimistic scenario presupposes the restoration of the output almost to the level of 2017. In 2020 the company sees the potential of the coal output growth to 25…

Russia: Mechel orders 15 BelAZs

Mechel has concluded an agreement with BelAZ on the delivery of 15 quarry dump trucks with the combined cost of 2 billion rubles. The new machines with the lifting capacity of 130 to 220 tons will arrive at Mechel enterprises in Kemerovo and Irkutsk regions: 11 BelAZs will be operating at the Yuzhniy Kuzbass pits,…

Russia: Mechel net profit up in Q1 2019

In January-March, Mechel net profit grew 3.44-fold YoY and 7-fold QoQ, to 11.336 billion rubles. Gross profit increased 3.3-fold YoY, to 11.714 billion rubles. EBITDA dropped by 17%, to 15.322 billion rubles, though it grew by 2% QoQ. The group net debt as of March 31 was 456.585 billion rubles ad opposed to 467.704 billion…

Russia: Mechel increases coke exports to Turkey

Mechel has signed an agreement to supply metallurgical coke to Kayseri Sugar, the largest sugar producer in Turkey. According to the agreement, Mechel will have to deliver up to 90 thousand tons of coke in 2019-2021 (some 30 thousand tons each summer). The price will be determined during negotiations. “Turkey is one the priority export…