OREANDA-NEWS. OAO Raspadskaya (MICEX-RTS: RASP) (“Raspadskaya” or “the Company”) informs about signing of a long-term contract with Hyundai Steel Company to supply coal products with volumes gradually increasing up to 300,000 tonnes per annum and prices linked to international benchmarks. Previously, Raspadskaya and Hyundai Steel signed a Memorandum on Long-Term Cooperation.

The five-year contract signing ceremony was held on 5 March 2013 at the Russian Ministry of Energy with the participation of Anatoly Yanovsky, Deputy Minister of Energy of the Russian Federation, and Konstantin Alekseev, Director of the Coal and Peat Industry Department of the Russian Ministry of Energy.

The document has been signed by Gennady Kozovoy, CEO of Raspadskaya Coal Company, and Seung-Ha Park, Vice Chairman and CEO of Hyundai Steel Company. As a result of negotiations conducted in many stages with the participation of commercial and technical departments of the companies, and complex testing of Raspadskaya’s products, Hyundai Steel will be supplied with high quality products.

Raspadskaya’s CEO, Gennady Kozovoy, commented:
"Signing the five-year contract confirms intentions of our companies to develop further long-term cooperation in the coal supply".
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About the Company
Raspadskaya is a compact integrated coal mining and enrichment complex located in the Kemerovo region of Russia. The company comprises three underground mines, one open-pit operation, a coal preparation plant, as well as a coal transportation network and a number of integrated infrastructure companies.