Itochu

Mechel concludes long-term contract on coal supply with Japanese Itochu Corporation

The Russian mining and metallurgical company Mechel has signed a framework agreement with one of the largest universal trading companies in Japan - Itochu Corporation.

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$1.5 bln to be invested in development of Tavan-Tolgoi

The investment in the development of the coal deposit Tavan-Tolgoi in Mongolia might equal to about $1.5 bln, the President of RZD, V. Yakunin said, Vedomosti reports.
According to him, this amount concerns the offer of the monopoly on the condition of the joint development of the site.
The application for participation in the auction is submitted but there might be some changes in the project, Mr. Yakunin said.
On February 1st, 2011 Mongolia started the pre-qualification selection of the applications on development of the coal deposit Tavan-Tolgoi. Read more »

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