Mechel OAO (MTL) Announces Signing of Coking & Steam Coal Supplies Contracts
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Mechel OAO (NYSE: MTL) announces signing of contracts for coking and steam coal supplies to Chinese, Japanese, and South Korean companies for 2009.
Mechel continues its activities to enlarge the geography of coal sales. Having an established successful experience of coal supplies to Japan and South Korea, in 2009 the company also entered the Chinese coal market having signed a number of new large contracts with local customers.
Currently total volume of supplies for 2009 fiscal year under Mechel's contracts with Chinese, Japanese, and South Korean companies amounts to approximately 2 million tons of coking coal concentrate produced at Yakutugol and 2.3 million tons of steam coal of various grades produced at Yakutugol and Southern Kuzbass.
Mechel OAO, an open joint stock company, through its subsidiaries, operates as a mining and steel company.[SM]
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