Mechel Reports Launch of New Longwall at Southern Kuzbass
March 13 2017 - 7:00AM
Mechel PAO (MICEX:MTLR) (NYSE:MTL)
, one of
the leading Russian mining and metals companies, reports launching
a new longwall at V.I. Lenina Underground Mine which is part of
Southern Kuzbass Coal Company.
V.I. Lenina Underground launched Longwall
0-5-2-13, whose industrial coal reserves are estimated at 369,000
tonnes of valuable coking coal grades. The longwall is 120 meters
long, the extraction panel is 630 meters.
Its coal will be supplied to Russian
steelmakers.
Mining at the longwall will be conducted by a
stoping complex including a stoping machine, a longwall conveyor
and a re-loader with a crushing station. The powered support
system’s 84 sections are hydraulically equipped. All equipment is
up to modern safety standards. Investment in the project totaled
270 million rubles.
“The launch of this new longwall will enable us
to quickly boost production of coking coal which is high in market
demand,” Mechel Mining Management OOO’s Chief Executive Officer
Pavel Shtark noted.
Mechel is an international mining and steel
company which employs 66,000 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.
Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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