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Mechel, South Korean company, sign coal contract

By Associated Press
June 9, 2009 | Comments (0)

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Russian mining and metal company Mechel OAO said Tuesday that one of its subsidiaries has signed a coking coal supply contract with South Korean Hyundai Steel.

Under the agreement, Mechel will supply 200,000 tons of K-9 grade coking coal mined from the Neryungri open pit for five years beginning in April 2010.

Financial terms were not given.

American Depositary Shares of Mechel added 24 cents, or 2.4 percent, to $10.32 in afternoon trading.

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