Russian tycoon buys 49% of Elga coal project, talks to Mechel on 51%

Anastasia Bogdanova | March 23, 2020
img0 MOSCOW – Russian businessman Albert Avdolyan has reached an agreement to buy a 49% stake in the major Elga coal project in Russia from Russian lender Gazprombank, the bank said in a statement on Monday. Avdolyan’s company A-Property is still in talks to buy the remaining 51% in the project from Russian steel and coal producer Mechel. ...

Mechel Reports the 2017 Financial Results

MINEX Forum | April 6, 2018
img0 Consolidated revenue – 299.1 bln rubles (+8% compared to FY2016) EBITDA* – 81.1 bln rubles (+23% compared to FY2016) Profit attributable to equity shareholders of Mechel PAO – 11.6 bln rubles Mechel PAO, a leading Russian mining and steel group, announces financial results for the full year 2017. Mechel PAO’s Chief Executive Officer Oleg Korzhov commented: “The 2017 financial results exceeded those ...

Mechel net profits down 40% in the first half of 2017

David McHutchon | August 23, 2017
img0 Mechel PAO (MOEX: MTLR, NYSE: MTL), a leading Russian mining and steel group, announces financial results for the 1H2017.   Mechel PAO’s Chief Executive Officer Oleg Korzhov commented: “The company’s 1H2017 results demonstrated a substantial improvement year-on-year. This became possible due to a positive dynamics in the coking coal market, significant diversification of our steel ...

Donetsk People’s Republic nationalizes Mechel’s suspended plant

MINEX Forum | July 22, 2016
img0 Image: http://scandaly.ru/ Mechel PAO (MICEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports receipt of the notice for introduction of a temporary state administration at the integral property complex of the Private Joint-Stock Company “Donetsk Electrometallurgical Plant” which is part of Mechel Group, the company’s press service reported. The Decree №12 ...