Russian coal and steel group, Mechel, has announced that it has reached agreement with Hyundai Steel of South Korea to increase coking coal deliveries by up to 300 thousand tonnes per year.
The agreement has been signed during the visit of Russian Deputy Prime Minister Igor Sechin to Seoul, and will see Mechel subsidiary, Yakutogol, deliver between 100 thousand and 300 thousand additional tonnes of coking coal per year over 5 years.
Mechel currently provides South Korea with 1 million tonnes per year. South Korea currently consumes up to 90 million tonnes per year.