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Russia's Mechel Doubles Anthracite Output and Sales
Russia's Mechel Q3 Net Result Turns To Loss of RUB 25.96 Bln Q-o-Q
Russia's Mechel Q3 Coal Output Down 7% Q-O-Q To 4.27 Mln Tonnes
Mechel PAO, formerly Mechel OAO, is a holding company. The Company operates in the mining, steel and power industry segments. Its segments include Steel segment, comprising production and sales of semi-finished steel products, carbon and specialty long products, carbon and stainless flat products, and value-added downstream metal products, including forgings, stampings, and hardware, and ferrosilicon; Mining segment, comprising production and sales of coal (coking and steam), and middlings, coke and chemical products, and iron ore, which supplies raw materials to the Steel and Power segments, and also sells raw materials to third parties, and Power segment, comprising generation and sales of electricity and heat power, which supplies electricity and heat power to the Steel and Mining segments, and also sells a portion of electricity and heat power to third parties. It has freight seaports in Russia on the Sea of Japan and on the Sea of Azov, and a freight river port on the Kama River.
Igor Vladimirovich Zyuzin
Chairman of the Board
Oleg Viktorovich Korzhov
General Director (CEO) - Chairman of the Management Board, Director
Aleksandr Nikolaevich Shokhin
Deputy Chairman of the Board
Nelli Rafailovna Galeeva
Member of the Management Board, Chief Financial Officer
Denis N. Graf
Chief Executive Officer of Mechel Energo
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Russian steel and coal producer Mechel has sold its stake in the Elga coal mine in Russia, which was its main asset for future growth, to a local businessman to reduce debt, it said on Wednesday, sending its Moscow-listed shares up 17%.
Russian steel and coal producer Mechel said on Friday it was supplying rolled steel for new emergency hospitals the defence ministry is building across the country to treat staff suffering from coronavirus.
Russian steel and coal producer Mechel has asked its creditors to extend a debt claim relief deal, adding on Wednesday that lengthy restructuring talks were nearing an end.
Russian steel and coal producer Mechel's protracted debt-restructuring talks have reached their final stages, a company representative said on Wednesday.
Russian businessman Albert Avdolyan has reached an agreement to buy a 49% stake in the major Elga coal project in Russia from Russian lender Gazprombank <GZPRI.MM>, the bank said in a statement on Monday.
Russian steel and coal producer Mechel confirmed on Thursday it was in talks to sell its flagship Elga coal project, one of the world's biggest coking coal deposits, ahead of the imminent expiry of a debt claim relief deal.
A decision on the future of the Elga coal project, one of the world's largest coking coal deposits, is likely in the first quarter of 2020, the regional governor said in an interview.
Russian steel and coal producer Mechel <MTLR.MM> said it did not take up an option to buy back a stake in its Elga coal mine by a deadline on Monday as it had received an alternative offer.
Russian steel and coal producer Mechel has decided not to buy back a stake in its biggest asset, the Elga coal mine in Russia's far east, its creditor Gazprombank, which has held the stake since 2016, said on Tuesday.
Russia's steel and coal producer Mechel said on Tuesday it had received an alternative offer regarding the Elga coal project, resulting in it not buying a stake in the project from Gazprombank.
Russian lender Gazprombank said on Tuesday that steel and coal producer Mechel had failed to exercise its pre-emptive right to buy the bank's 34% stake in the Elga coal project.
Russian state bank VTB, one of the two key lenders to steel and coal producer Mechel , believes that the miner can service its debts, VTB Chief Executive Andrey Kostin told Reuters.
Russian state bank VTB said on Thursday it had acquired steel and coal producer Mechel's debt worth just under 50 billion roubles ($783 million) from lender Sberbank. ($1 = 63.8600 roubles) (Reporting by Tatiana Voronova; writing by Tom Balmforth; editing by Maria Kiselyova)
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:
Russian steel and coal producer Mechel <MTLR.MM> agreed to pay around 30 billion roubles ($461 million) for Gazprombank's <GZPRI.MM> 34% stake in the Elga coal project, two sources familiar with the matter told Reuters on Thursday.
Russian steel and coal producer Mechel has agreed to buy Gazprombank's 34% stake in the Elga coal deposit for around 30 billion roubles ($461 million), two sources familiar with the matter told Reuters on Thursday.
The head of Russian bank VTB <VTBR.MM> said on Wednesday the lender would discuss a debt restructuring request from Mechel <MTLR.MM> with the mining group's other creditors, Sberbank <SBER.MM> and Gazprombank <GZPRI.MM>.
The head of Russian bank VTB Andrey Kostin said on Wednesday the lender would discuss a debt restructuring request by mining firm Mechel with its other creditors, Sberbank and Gazprombank.
Russian coal and steel producer Mechel has asked state-controlled lenders Sberbank , VTB and Gazprombank for more time to make its debt repayments, the banks and company said on Thursday.
Russian coal and steel producer Mechel expects to reach an agreement with its main creditors in the near future about pushing back its debt repayments, the company said on Thursday.
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