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Mechel, BelAZ Sign Agreement for Long-Term Partnership
11/29/2011 - The long-term partnership agreement provides for supplies of BelAZ-produced mining dump trucks to Mechel’s enterprises, supplies of spare parts for those trucks, setting up production of cargo platforms for BelAZ mining dump trucks at Mechel’s plants, and certification of a Mechel subsidiary as one of BelAZ’s service centers in the Russian Federation.
Mechel OAO and BelAZ OAO have signed a long-term partnership agreement during the session of the Supreme State Council of the Union State of Russia and Belarus.
Mechel OAO’s Chairman of the Board of Directors Igor Zyuzin and BelAZ OAO’s General Director Pyotr Parkhomchik signed the long-term partnership agreement in the presence of Russian President Dmitry Medvedev, Belarusian President Alexander Lukashenko, Russian Prime Minister Vladimir Putin, Belarusian Prime Minister Mikhail Myasnikovich, among several other heads of state.
Mechel and BelAZ agreed in principle to sign the agreement for a 10-year partnership in August 2011, when Mechel’s delegation headed by Zyuzin visited Minsk by Myasnikovich’s invitation to discuss ways to improve Mechel Group’s ties with Belarusian enterprises.
The long-term partnership agreement provides for supplies of BelAZ-produced mining dump trucks to Mechel’s enterprises, supplies of spare parts for those trucks, setting up production of cargo platforms for BelAZ mining dump trucks at Mechel’s plants, and certification of a Mechel subsidiary as one of BelAZ’s service centers in the Russian Federation.
Mechel Group’s mining division, which is one of BelAZ’s chief customers in Russia, plans to acquire mining dump trucks mainly for use at the Elga coal deposit with estimated reserves of 2.2 billion tonnes of coking coal. Mining at this deposit commenced in August 2011.
Mechel is one of the leading Russian mining and metals companies. Its business includes four segments: mining, steel, ferroalloy and power. The company unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Its products are marketed domestically and internationally.
