Russian mining and metals company Mechel has announced that it has expanded its sales agreement with the Japanese trading company Itachu Corporation.
According to the agreement, Mechel and Itachu Corporation have contracted for potential sales of up to 800,000 mt of coking and thermal coal between December 2018 and March 2020. The coal will be shipped from Mechel’s Southern Kuzbass Coal Company and Elgaugol, while the price will be determined by mutual agreement. Major Japanese consumers and Asian steelmaking and power facilities will be the end-consumers of Mechel’s products.
Mechel Mining Management Company OOO’s chief executive officer Pavel Shtark commented, “Expanding our cooperation will help us consolidate our position in the Asia Pacific market. We are glad that Mechel’s coal won positive appraisal from our Japanese partners, and we will ensure its high quality in the future as well.”