Mechel PAO Reports Launch of New Longwall at Southern Kuzbass
MOSCOW, April 04, 2018 - Mechel PAO (MOEX:MTLR) (NYSE:MTL), one of the leading Russian mining and metals companies, reports launching Longwall 0-17-16 at V.I. Lenina Underground Mine which is part of Southern Kuzbass Coal Company.The new longwall’s industrial coal reserves are estimated at 650,000 tonnes of valuable coking coal grades. The longwall is 200 meters long, the extraction panel is approximately 800 meters.
Mining at the longwall will be conducted by a stoping complex including a stoping machine, a longwall conveyor, a 130-section powered support system and a beam stage loader unit. All equipment is up to modern safety standards. Investment in the project totaled 230 million rubles.
“The launched longwall will yield high-quality coking coal with low ash content, which is much in demand both domestically and internationally,” Mechel Mining Management OOO’s Chief Executive Officer Pavel Shtark noted.
Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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.
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.