Russia's second largest coking coal producer Raspadskaya has stated that on October 8 it signed a memorandum with South Korean steelmaker Hyundai Steel Company on long-term cooperation starting in 2013 for the supply of coal with volumes gradually increasing up to 300,000 mt per year.
In the first nine months of the year, Raspadskaya exported 500,000 mt of coking coal. Raspadskaya stated that it is taking active steps to promote its brand in the global market, while also focusing on quality control of products in the areas of production, loading and unloading. Accordingly, in the given period certain volumes were sold for the purpose of tests at the coke plants of the world's large steel producers in the Asia-Pacific region.
Raspadskaya is negotiating further cooperation in several regional markets, seeking to supply additional volumes for Q4 2012 and for 2013 under long-term contracts.