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Posco, Mechel Sign Initial Deal To Develop Resources In Russia

SEOUL -(Dow Jones)- South Korean steelmaker Posco (005490.SE) said Wednesday that it has signed an initial agreement with Russia's Mechel OAO (MTL) to develop energy resources in Russia and other countries. The two companies have also signed a memorandum of agreement to cooperate in the stainless steel business, Posco said. Under the preliminary deal, Posco may build stainless steel processing facilities for Mechel in Russia, it said. Posco, which has received an order to build a housing complex for employees working in Mechel's Elga coal mine by June 2013, expects the initial pact will help it participate in the coal mine development in the future, it said. -By Kyong-Ae Choi, Dow Jones Newswires; 822-3700-1903; kyong-ae.choi@dowjones.com

Stock News for Mechel Oao (MTL)
DateTimeHeadline
09/22/201418:39:55ADR Shares End Lower; Mechel Shares Trade Actively
03/03/201403:22:53Gazprom, Industrials Plunge In Micex Rout -- Market Talk
12/03/201316:58:24ADR Shares End Lower As Investors Eye Friday Jobs Report
11/18/201313:10:43Mechel Agrees With Main Lenders on Easing Debt
11/18/201312:53:23Mechel Agrees With Main Lenders on Easing Debt - Sources
11/14/201308:53:10Sberbank CEO: Mechel Debt-Restructuring Process Proceeding Normally...
04/30/201308:50:42Mechel Signs 3-Year Coal Deal With Korea's POSCO
04/29/201317:05:41ADR Shares Rise on Gains for Mining, Energy Stocks
04/17/201310:54:23Mechel Resumes Work at Some Idled West Virginia Mines
03/04/201317:20:53ADR Shares Close Mixed; Property, Mining Stocks Slump After China...
02/20/201317:13:37ADR Shares End Lower; Gold Mining Companies Hit Hard
01/11/201318:12:09ADR Shares End Mixed; Metals, Mining Stocks Fall on China Inflation...
12/10/201217:22:36ADR Report: Shares End Slightly Higher, Boosted by Mining Stocks
10/15/201206:12:33Mechel Secures $775 Million Credit for Russian Mine
08/27/201217:15:27ADR Report: Shares End Lower; Steelmakers Slump
06/20/201217:32:20ADR Report: Shares End Higher on Central Bank Support
05/02/201217:19:50ADR Report: Shares Lower As Euro Zone Worries Grow
03/29/201217:23:17ADR Report: Shares Drop On Weakness In Overseas Markets
03/05/201217:26:20ADR Report: Shares Lower As China Cuts Growth Target
12/28/201110:48:23Evraz Secures $610 Million Loan Amid Volatile Market Conditions

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