Press Releases

Mechel Reports Resumption of Mining at New-Olzherassk Underground Mine

Moscow, Russia — November 16, 2011 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces that coal mining at New-Olzherassk Underground mine has been resumed.

By the year’s end, New-Olzherassk’s section # 21-1-7 is planned to yield some 352,000 tonnes of coal. The long wall face’s industrial reserves are estimated at some 3 million tonnes.

The breakage face is equipped with mechanized shield supports made by ZF of China and a shearer, a face conveyor and a rear conveyor by Joy Mining Machinery of Britain, which allows the company to use a unique top coal caving method enabling thick seam mining in one coal layer of up to 10 meters. This technology proved the best for the mine’s geological conditions.

Mining in the production area of New-Olzherassk Underground mine, which belongs to Southern Kuzbass Coal Company, was suspended in August 2010 due to coal self-heating.

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Mechel OAO
Ekaterina Videman
Phone: + 7 495 221-88-88
ekaterina.videman@mechel.com

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Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.

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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.

 

16.11.