Mechel PAO: Reports Launch of New Longwall at Southern Kuzbass
MEZHDURECHENSK, March 13, 2017 - 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