Russia, Posco

Mechel to solve its credit problems by the sale of part of its share in the Elginskoye deposit

The leading Russian mining and metallurgical company Mechel negotiates on the sale of a part of the company’s share in Elgaugol, which owns a license for development of the largest coking coal deposit in Yakutia.
According to the ITAR-TASS, the largest metallurgical company of South Korea Posco and the largest state-owned steel-smelting company of China Baosteel are interested in the purchase of a share in the  Elginskoye deposit.
According to executive secretary of the Russian-Chinese chamber, Sergei Sanakoev, the negotiations of Baosteel with Mechel have lasted for a half of year already. The Chinese company is interested in from 26% to 50% in the Eginsky project. At the same time, Baosteel is interested not only in purchase of a share in Elgaugol, but also in the joint development of infrastructure, including the construction of a terminal for 3 million tons per year in port of Vanino, Sanakoev said.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Korean POSCO to upgrade NLMK’s plant in Lipetsk

NLMK and South Korea's POSCO Engineering & Construction have signed an agreement on strategic cooperation in investment projects to upgrade domain, steelmaking and rolling facilities of the plant in Lipetsk.
"The projects, implemented in the framework of the agreement, are aimed at improving the efficiency of the technological processes, including primary processing, and control of NLMK’s production quality, introducing the best practices and advanced technologies, particularly in the production of coated rolled metal, as well as at mastering output of new products with high added value,"- NLMK reports

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Mechel has concluded a 3-year contract on the supply of coal to South Korea

South-Korean Corporation POSCO will get 500 thousand tons of coking coal from the Elga deposit every year.
Mechel has concluded a 3-year contract on a supply of coal to South-Korean POSCO. The coal will be delivered by a subsidiary of the holding “Mechel Carbon”. Besides, Mechel’s affiliate has concluded an annual agreement with POSCO on a supply of 200 thousand tons of PCI coal until 2014.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Russia. Mechel discusses the prospects on the development of Elga deposit with South Korean STX and Posco

Mechel Plc. concluded an agreement of long-term cooperation with South Korean STX at the business summit of the Forum of Asian-Pacific Economic Cooperation, the company’s press service reports. Besides, the Chairman of the Board of Directors of Mechel, Igor Zyuzin and President of Posco summarized the results of the cooperation in accordance with the agreement about the projects signed by the companies in 2011. Read more »

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer