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

December 17, 2018

(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 

 

 

 

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MECHEL EXPANDS LONG-TERM COAL SUPPLY AGREEMENT
WITH JAPAN’S ITOCHU CORPORATION

Singapore – December 17, 2018 – Mechel PAO (MOEX: MTLR; NYSE: MTL), a leading Russian mining and metals company, reports expansion of the sales agreement with a major Japanese universal trading company Itochu Corporation.

The agreement stipulates that Mechel and Itochu Corporation agreed on potential sales of up to 800,000 tonnes 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. The price will be determined by mutual agreement. Japan’s major consumers and Asian steelmaking and power facilities will be the end consumers of Mechel’s products.

“Our longstanding ties with Itochu Corporation are stepping up to a new level. 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,” Mechel Mining Management Company OOO’s Chief Executive Officer Pavel Shtark commented.  

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Mechel PAO

Ekaterina Videman

Tel: + 7 495 221 88 88

ekaterina.videman@mechel.com

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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.

 

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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.

 

Date: December 17, 2018

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