0001564590-20-046715.txt : 20201019 0001564590-20-046715.hdr.sgml : 20201019 20201019104544 ACCESSION NUMBER: 0001564590-20-046715 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20201019 FILED AS OF DATE: 20201019 DATE AS OF CHANGE: 20201019 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Mechel PAO CENTRAL INDEX KEY: 0001302362 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 000000000 STATE OF INCORPORATION: 1Z FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32328 FILM NUMBER: 201245527 BUSINESS ADDRESS: STREET 1: 1, KRASNOARMEYSKAYA UL CITY: MOSCOW STATE: 1Z ZIP: 125993 BUSINESS PHONE: 011-007-495-221-8888 MAIL ADDRESS: STREET 1: 1, KRASNOARMEYSKAYA UL CITY: MOSCOW STATE: 1Z ZIP: 125993 FORMER COMPANY: FORMER CONFORMED NAME: Mechel OAO DATE OF NAME CHANGE: 20050801 FORMER COMPANY: FORMER CONFORMED NAME: Mechel Steel Group OAO DATE OF NAME CHANGE: 20040903 6-K 1 mtl-6k_20201019.htm 6-K MECHEL SIGNS LONG-TERM COAL SUPPLY CONTRACT WITH SOUTH KOREA mtl-6k_20201019.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

October 19, 2020

(Commission File No. 001-32328)

 

MECHEL PAO

(Translation of registrant’s name into English)

 

Krasnoarmeyskaya 1,

Moscow 125167

Russian Federation

 

(Address of registrant’s principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1): [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7): [ ]

   

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

    Yes  ☐    No  ☒

 

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):    n/a 

 

 

 

 

MECHEL SIGNS LONG-TERM COAL SUPPLY CONTRACT
WITH SOUTH KOREA’S STX CORPORATION

 

Bar, Switzerland – 19 October 2020 – Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports extending the year-long coal supply contract with STX Corporation, one of South Korea’s major universal trading companies active in Asia Pacific.

According to the document, until December 2021 Mechel will supply STX Corporation with up to 1 million tonnes of products, including coking and thermal coal produced by Yakutugol Holding Company and Southern Kuzbass Coal Company. STX Corporation will provide funding for coal supply to Asia Pacific. The price will be determined based on the market situation.

Over the past year, Mechel has shipped a total of 800,000 tonnes of coal to STX Corporation as per the current contract.

“The coal market has begun recover after a difficult first half of the year. As several think-tanks have foretold, as demand is getting stronger, prices for coking coal (key product for Mechel’s mining division) may go up by a quarter in the next year and a half. In this sense, 2021 will be indicative. By signing this agreement, we have begun preparing for the next year in advance, as the current situation calls for flexibility in one’s sales policy and offering one’s partners mutually acceptable cooperation aiming for a long-term outlook,” Mechel PAO’s Chief Executive Officer Oleg Korzhov commented.

 

***

 

Mechel PAO

Ekaterina Videman

Tel: + 7 495 221 88 88

ekaterina.videman@mechel.com

***

 

Mechel is an international mining and steel company. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.

 

***

 

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

 

 

 

Mechel PAO

 

 

 

By:

Oleg V. Korzhov

 

Name:

Oleg V. Korzhov

Title:

CEO

Date: October 19, 2020

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