Russia: Mechel rents 10 BelAZs

Mechel has rented 10 BelAZ dump trucks within the agreement with the State Transport Leasing Company. According to Mechel statement, the total cost of the agreements is 900 million rubles ($14.5 million). The new machinery with the lifting capacity of 90 tons has already been transported to Korshunovsky Mining and Processing Works. 6 dump trucks…

Russia: Mechel to increase coal output

In 2018 Mechel intends to reach coal output at the level of 23.3 million tons. “In particular, UKUZ is expected to yield 9.5 million tons, Yakutugol – 8.5 million tons and Elga – 5.3 million tons. Coking coal concentrate will total 10.7 million tons. Power-generating coal output – 5.8 million tons”, the company CEO Oleg…

Russia: Mechel commissions new long face at South Kuzbass mine

Mechel has put into operation a new long face 0-17-16 at the mine named after Lenin, a part of the South Kuzbass coal company.

The reserves of the long face are estimated at 650 thousand tons of coking coal. Its length is 200 meters.

Investments in the project totaled 230 million rubles. (Ukrainian metal)

Russia: Mechel net losses up in 2017

In 2017 Mechel increased its net loss 1.9-fold YoY, to 15.2 billion rubles. According to the company statement, its revenue decreased 2.1-fold, to 5.99 billion rubles, gross profit dropped 4.1-fold, to 3.05 billion rubles, and sales profit – 7.3-fold, to 1.5 billion rubles. Other income grew 2-fold, to 15.3 billion rubles. The company fixed liabilities…

Russia: Mechel borrows 1.44 billion rubles from ChMK

Mechel has concluded an agreement on borrowing 1.44 billion rubles from Chelyabinsk Iron and Steel Works.

The agreement was signed on January 15 and is valid through October 1, 2022.

The interest rate on the loan is not revealed. (Ukrainian metal)

Russia: Mechel reports on the change in management

Mechel informs that the group CFO Sergey Rezontov is leaving the company.

According to the statement, Rezontov resigned due to his personal reasons.

“We are grateful to Sergey Rezontov for his work”, Mechel CEO Oleg Korzhov said. (Ukrainian metal)

Russia: Mechel creditors agree on restructure

Around 85% of Mechel creditors on the syndicate loan of $1 billion support the restructure conditions. In November 2017 Mechel reported that over half of the creditors supported them. The company continued negotiating. For the deal to be successful the company needed the approval of at least 75% of creditors. At present some 78% of…

Russia: Mechel to supply coke to Serbia

Mechel has signed a memorandum on delivery of coke to HBIS Group Serbia Iron & Steel. According to the agreement, Moskoks will supply up to 120 thousand tons of coke products to Serbia, or 30 thousand tons each quarter. The delivery will be carried out from January till December 2018. The price will be determined…

Russia: Mechel losses up in January-September 2017

In January-September the net losses of Mechel doubled YoY, to 11.71 billion rubles.

Revenue dropped 2.2-fold, to 5.12 billion rubles, gross profit decreased 5.2-fold, to 2.19 billion rubles.

Sales profits fell 9.5-fold, to 1.06 billion rubles.

In H1 Mechel net profit decreased by 40% YoY, to 4.994 billion rubles. (Ukrainian metal)

Russia: Zyuzin sells a piece of Mechel for debts

The Zyuzins family decreased their consolidated share in Mechel from 55.04% to 50.1%, having given 4.93% to Veriotex Holdings Limited as a repayment of the debt. At present Igor Zyuzin owns 26.47% of the company, a part of which is owned through Calridge Ltd. “In October Calridge transferred 20.534 million shares as debt settlement”, the…

Russia: Mechel-Materials increases refractories output

Mechel-Materials has started producing refractories of higher strength. These products are used for lining of heating units at metal and machine-building works. The Mechel-Materials bricks are made of high-aluminous raw materials, thus having the higher content of aluminum oxide, which provides for higher heat-resistance and lower thermal conduction. The first batches of new products have…

Russia: Mechel-Service sales up in January-July

In January-July Mechel-Service increased metal sales from warehouses by 2% YoY. “In 7 months of 2016 we shipped 852 thousand tons of products, this year – 871 thousand tons. Our sales network has expanded: we have opened a site in Biysk. Soon our subsidiaries will appear in Izhevsk and Volgograd”, the company CEO Leonid Polyansky…