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…
Russian metals and mining group Mechel has sent proposals to major state-owned creditor banks to reschedule its 347.5-billion ruble debt, CFO Nelli Galeyeva said during an annual general meeting of the company’s shareholders. “We sent a proposal to our largest creditor banks in June offering changes to the schedule of the company’s debt portfolio repayment.…
The shareholders of the Russian metals and mining group Mechel have approved paying 18.21 rubles per preferred share in dividends for 2018, or a total of 2.527 billion rubles, and no dividends on common shares. The record date is scheduled for July 18. For 2017 Mechel paid 16.66 rubles per preferred share, or a total…
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,…
In January-March, Mechel produced 930 thousand tons of steel, down by 12% YoY, but up by 3% QoQ. The manufacture of bars totaled 607 thousand tons, down by 11% YoY and by 2% QoQ, and flat rolled metal – 114 thousand tons, down by 17%, but up by 26% respectively. Bars manufacture at the rail…
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…
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…
Russia’s Mechel has paid in full for the Donetsk Electrometallurgical Plant purchased in 2011. The group lost control over the plant 3 years ago. Mechel bought 100% of the enterprise shares for $537 million with the payment by monthly installments until late 2018. In February Mechel paid the last installment. (Ukrainian metal)
