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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
04/29/201509:11:27Report of Foreign Issuer (6-k)
04/28/201512:22:41Report of Foreign Issuer (6-k)
04/28/201506:29:01Report of Foreign Issuer (6-k)
04/28/201506:15:00Mechel Reports the 2014 Financial Results
04/28/201503:45:00Mechel Reports 2014 Operational Results
04/24/201507:58:24Report of Foreign Issuer (6-k)
04/21/201507:50:28Report of Foreign Issuer (6-k)
04/21/201507:48:15Mechel Signs Service Agreement With Sinara Transport Machines
04/07/201509:41:16Report of Foreign Issuer (6-k)
04/07/201509:30:00Mechel Signs Agreement With Russian Railways Transportation Service
04/02/201507:12:54Report of Foreign Issuer (6-k)
04/02/201507:00:00Mechel Reports Extending Raiffeisenbank Credit Lines
03/23/201506:10:07Report of Foreign Issuer (6-k)
03/23/201504:30:00Mechel Earns Recognition for Employee Development
03/18/201512:09:06Why Mechel OAO (ADR) Jumped 25% Today
03/18/201509:12:28Premarket Gainers / Losers as of 9:10 am
03/16/201512:07:03Why Mechel OAO (ADR) Dropped 31% Today
03/16/201509:14:04Premarket Gainers / Losers as of 9:10 am
03/11/201509:11:21Premarket Gainers / Losers as of 9:10 am
03/11/201508:24:48Mechel jumps as VTB says deal is possible

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