Russian lender Gazprombank has signed a pact to sell 49% of shares in the Elga coal project to Russian company A-Property, the lender said on Monday. The other major Elga shareholder is Russian steel and coal producer Mechel, which said in March it was in talks to sell its 51% stake.
Presidential Plenipotentiary Representative in Russia's Urals Federal District Nikolai Tsukanov, Chelyabinsk Region's Governor Alexei Texler, Chairman of Mechel PAO's Board of Directors Igor Zyuzin and Mechel PAO's Chief Executive Officer Oleg Korzhov took part in the official ceremony. MechelPAO's honored guests and top officials pressed a symbolic button launching the upgraded blast furnace #4 and converter #1.
MOSCOW, RUSSIA / ACCESSWIRE / May 26, 2020 / Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, announces 1Q2020 operational results. Mechel PAO's Chief Executive ...
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
Fund formerly run by Parames releases portfolio update Continue reading...
MOSCOW, RUSSIA / ACCESSWIRE / May 22, 2020 / MechelPAO (MOEX:MTLR)(NYSE:MTL),one of the leading Russian mining and metals companies, announces that it intends to release its operational and financial results ...
In accordance with this agreement, Mechel has sold its 51-percent of the shares of Elgaugol OOO, Elga-Doroga OOO and Mechel Trans Vostok OOO to A-Property OOO. The buyer also fully settled Mechel's liabilities to the state development corporation VEB.RF, totaling 107 million US dollars. At the same time, Mechel signed debt restructuring agreements with Gazprombank and VTB Bank, with proceeds from the sale of the 51-percent share in Elga Coal Complex used to repay the debt to the two banks in proportion to their share in Mechel Group's debt leverage.
Company looks to boost foreign income amid domestic dominance Continue reading...
MOSCOW, RUSSIA / ACCESSWIRE / March 18,2020 / MechelPAO (MOEX:MTLR, NYSE:MTL),one of the leading Russian mining and metals companies, announces that it intends to release its operational and financial ...
The steel industry is part of the basic materials sector and consists of companies involved in steel production, mining, and related activities. Although steel has historically been a major U.S. industry, the number of steel mills that produce the metal has declined sharply in the past several decades due to foreign competition.
MOSCOW, RUSSIA / ACCESSWIRE / March 25, 2020 / Mechel PAO (MOEX:MTLR)(NYSE:MTL), one of the leading Russian mining and metals companies, announces that it has filed its Annual Report on Form 20-F for the ...
Russian steel and coal producer Mechel confirmed on Thursday it was in talks to sell its flagship Elga coal project, one of the world's biggest coking coal deposits, ahead of the imminent expiry of a debt claim relief deal. Mechel has been negotiating the sale of the Elga coal project, its biggest growth asset, which requires significant further investments to develop, as part of the latest round of protracted debt restructuring talks with its creditors. "In January 2020 the group began negotiations with potential buyers over the sale of the Elga coal complex, which will allow it to reduce its debt burden," the company, controlled by businessman Igor Zyuzin, said in a statement, adding it had not yet reached a deal.
MOSCOW, RUSSIA / ACCESSWIRE / April 15, 2020 / Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports launching an upgraded furnace at Bratsk Ferroalloy Plant. ...
Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
MOSCOW, RUSSIA / ACCESSWIRE / April 3, 2020 / Mechel Group's (MTLR.ME)(MTL),one of the leading Russian mining and metals companies) sales network Mechel Service is supplying steel rolls for construction of infectious disease hospitals designed to fight coronavirus all over Russia. As part of the government's plan to prevent the spread of coronavirus, rapidly erectable medical centers designed for fighting infectious diseases are being built. Russia's defense ministry is speeding up construction of 16 medical centers.
Fund releases quarterly portfolio Continue reading...
Consolidated revenue -296.6bln rubles(-5% compared toFY2018) EBITDA-53.4bln rubles(-29% compared to FY2018) Profitattributable to equity shareholders of Mechel PAO -2.4bln rubles MOSCOW, RUSSIA / ACCESSWIRE ...
Mechel Reports 2019 Operational Results MOSCOW, RUSSIA / ACCESSWIRE / March 19, 2020 / Mechel PAO (MOEX:MTLR)(NYSE:MTL), one of the leading Russian mining and metals companies, announces 2019 operational ...
Consolidated revenue -68.3 bln rubles(-9% compared to 1Q 2019) EBITDA-12.7bln rubles(-17% compared to 1Q 2019) Loss attributable to equity shareholders of Mechel PAO -36.9bln rubles MOSCOW, RUSSIA / ...
Wall Street analysts recommend selling Continue reading...