Mechel Reports Resumption of Coal Mining at New-Olzherassk Underground MineMoscow, Russia — September 20, 2012 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces that coal mining at Southern Kuzbass Coal Company OAO’s New-Olzherassk Underground has been resumed.
Industrial reserves of coal at the mine’s long wall face 21-1-7 are 350,000 tonnes, with the mining face’s monthly load planned at 150,000 tonnes.
The mining face is equipped with the ZF mechanized complex, Chinese-made MG-400 cutter-loader, Russian-made Anzhera-34 face and rear conveyers, PSP 308 reloader and DU 910 crusher, which enables it to conduct mining using a high-efficiency technology for thick seam mining. The long wall face is also equipped with everything necessary to ensure industrial safety.
Mining at New-Olzherassk Underground were suspended on February 27, 2012, due to coal self-heating in the worked-out area of the long wall face 21-1-7.
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Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.