PJSC Mechel Reports Launching New Production Area at Sibirginskaya Underground Mine
MYSKI, April 5, 2021 - Mechel PAO (MOEX:MTLR, NYSE:MTL), one of Russia's leading mining and steel companies, reports that the Group's Southern Kuzbass Coal Company is launching the second section of the longwall 3-1-11's working area at Sibirginskaya Underground Mine. Investment topped 300 million rubles. The longwall 3-1-11 lies 450 meters deep. The new extraction area's industrial coal reserves are estimated at 1.5 million tonnes. The working face's seam height is four meters, with the length of 220 meters and an extraction panel of 1,070 meters.
The longwall's second section is equipped with a cutter-loader, an overloader, a crusher, a 220-meter belt conveyor, and a 130-section powered support system. All of the longwall's equipment is fully compliant with modern safety requirements.
"The longwall 3-1-11 with estimated coking coal reserves of 3.5 million tonnes has been launched in the fall of 2019, and we have already mined over 1 million tonnes of coking coal in its first production area. In the near future, we will begin preparing for mining in its third extraction area, which is due to be launched in late 2022," Mechel Mining Management OOO's Chief Executive Officer Igor Khafizov said.
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Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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Mechel is an international mining and steel company. 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.
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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.
SOURCE: PJSC Mechel