Mechel Reports Federal Subsoil Resources Management Agency Approved Revised Work Schedule for Elga Deposit

Mechel OAO MTL announces the Federal Subsoil Resources Management Agency approved the revised schedule for the works under the subsoil license agreement for development of the Elga coal deposit. According to the revised license conditions, the first stage of the 9-million-tonne washing complex's construction must be completed no later than August 1, 2017. The mining enterprise's first phase — with no less than a 9-million-tonne coal mining annual capacity — must reach design capacity by no later than August 1, 2018. The mining enterprise's second phase with an annual production capacity of no less than 18 million tonnes must reach design capacity by the end of 2021. See full press release