Jidong renews coal contract with Mechel

Jidong Cement has renewed its coal contract with Mechel, according to the Russian metals and mining company.

Mechel will supply Jidong Cement with up to 2Mt of thermal coal mined at the company’s South Yakutia facilities, Elgaugol and Yakutugol Holding Co. Monthly supplies will range between 100,000-150,000t of coal products and prices will be adjusted on a monthly basis following negotiations and on the basis of index rates.

"This is a third major contract signed by Mechel and Jidong Cement. I am sure that our ties will continue to develop in a constructive manner in the future. It is also important to note that Jidong Cement is a key customer of Elga’s thermal coal in Asia – in 2017 we supplied our Chinese partners with 1.9Mt and another 1.4Mt  in 2018. In 2019 we plan to export thermal coal from Elga in comparable volumes," said Mechel Mining Management CEO, Pavel Shtark.