Mechel Reports Launch of the New Long Wall Face at Olzherasskaya-Novaya Mine
October 12 2015 - 5:10AM
Mechel OAO (MICEX:MTLR) (NYSE:MTL), one of
the leading Russian mining and metals companies, announces
launching a new long wall face at its Southern Kuzbass OAO coal
mining subsidiary's Olzherasskaya-Novaya Mine.
New long wall face No. 21-1-9 with coal reserves of 3.4 million
tonnes has been launched at Olzherasskaya-Novaya Mine. The mine's
team is due to work on the face for two years.
Miners at the face use a special sub-level caving method, which
enables thick seam mining in one coal layer of up to 10 meters,
extracting maximum volumes of coal in one go while decreasing the
risk of breeding fire.
"The launch of the new long wall face will significantly boost
Olzherasskaya-Novaya Mine's capacity and increase our coking coal
output. In 2016 we expect the mine to produce approximately 2
million tonnes of raw coal," Mechel Mining Management Company OOO's
Chief Executive Officer Pavel Shtark commented.
Mechel is an international mining and steel company which
employs 67,000 people. Its products are marketed in Europe, Asia,
North and South America, Africa. Mechel unites producers of coal,
iron ore concentrate, steel, rolled products, ferroalloys, heat and
electric power. All of its enterprises work in a single production
chain, from raw materials to high value-added products.
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.
CONTACT: Mechel OAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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