Market Overview

Mechel Resumes Mining at Mechel Bluestone Mining Facilities

Mechel OAO (NYSE: MTL) reports the resumption of work at several of Mechel Bluestone's (West Virginia, USA) mining facilities. Mechel Bluestone is part of the Group's mining division.

Due to decreased coal inventories, Mechel decided to resume open-pit mining at some of Mechel Bluestone's facilities — Justice Energy and Dynamic Energy mining complexes. The complexes are due to produce some 135,000 tonnes a month.

Mining at these Mechel Bluestone facilities was temporarily halted in late October 2012 due to an accumulation of coal inventories. Mechel Bluestone's washing plants continued operating and all obligations under pre-existing contracts were met in full.

The company will resume mining at other Mechel Bluestone facilities as market conditions warrant.

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.

The Mechel OAO logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8181

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance

See full press release

Posted-In: Earnings News Guidance Global

 

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