As the company told YSIA, according to the memorandum, JSC "Mechel" will supply 1 million tons of thermal coal, mined in the "Neryungri" and "Elga” lips, to Jidong Cement for the period from April 2015 to March 2016.
The price of products and the supply exact amount will be determined on a monthly basis.
The parties also agreed to consider the possibility of further expansion of cooperation in supply of metallurgical coal for Jidong Development enterprise group.
"The Chinese market for "Mechel" mining segment is one of the priorities. It accounts for a substantial proportion (70%) of our sales in the Asia-Pacific region. Against the background of the global fall in coal demand, it is extremely important for us to develop long-term cooperation that allows us to maintain market share and provide a stable supply of coal for export," said General Director of "Mechel Mining" Pavel Stark.