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Mechel Conducts Technical Upgrade of Korshunov Mining Plant

Monday, April 16th, 2018

Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports leasing 10 BelAZ trucks in the framework of agreements signed with State Transport Leasing Company (STLC).

The agreements signed with STLC for supply of heavy-duty trucks total approximately 900 million rubles. The financing term is five years. The BelAZ trucks were acquired in the framework of the program on preferential financing of export industrial products made in Belarus.

The new mining equipment with a 90-tonne load capacity arrived at the production site of Korshunov Mining Plant which is part of Mechel’s mining division. The first six BelAZ trucks have already been assembled and begun working in the plant’s Rudnogorsky Open Pit.

According to the company’s technical revamping program, over 90 mining and auxiliary equipment units, including trucks and excavators, will be supplied to the Group’s mining facilities in 2018. In 2017 over 100 new equipment units were added to the fleet of Mechel’s mining companies.

“We try to use all financial instruments available to us to fulfill our investment program on increasing our mining equipment fleet, and we are grateful to our partner, State Transport Leasing Company, for their constructive approach. New BelAZ trucks will enable us to begin restoring iron ore mining volumes at Korshunov Mining Plant,” Mechel Mining Management OOO’s Chief Executive Officer Pavel Shtark noted.
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