Mechel announces the launch of a new longwall at the Kuzbass production site
Mezhdurechensk, Russia - March 15, 2021 - Mechel PAO (MICEX: MTLR, NYSE: MTL ), a leading Russian mining and metallurgical company, announces the commissioning of a new longwall at the mine named after V.I. Lenin of the coal company "Southern Kuzbass". Investments amounted to about 470 million rubles.
Commercial coal reserves in the new longwall 0-16-10 are estimated at 435 thousand tons. The average thickness of the seam is 1.8 meters, the length of the working face is almost 200 meters, the length of the extraction column is 720 meters.
The lava is equipped with 134 sections of powered support, a shearer, as well as a crushing plant, a loader and a face conveyor ... All equipment meets modern industrial safety and labor protection requirements.
“The reserves of the Lenin mine are coking coal with excellent quality characteristics, which is in demand by coke-chemical enterprises. The Yuzhny Kuzbass team will mine the new longwall within eight months. The concentrate produced from this coal is sold both on the domestic market and on export routes, ”commented Igor Khafizov, General Director of Mechel Mining Management Company LLC.
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Mechel is a global mining and metallurgical company. The company's products are supplied to Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore, steel, rolled products, ferroalloys, heat and electricity. All businesses operate in a single production chain: from raw materials to high value-added products.
Certain statements in this press release may contain assumptions or forecasts regarding future events or the future financial performance of Mechel PAO in accordance with the provisions of the 1995 US Securities Litigation Reform Act. We would like to warn you that these statements are only assumptions, and the actual course of events or results may differ materially from those stated. We do not intend to revise or update these statements. We refer you to the documents that Mechel periodically submits to the US Securities and Exchange Commission, including the Annual Report on Form 20-F. These documents contain and describe important factors, including those identified in the "Risk Factors" section and "Note on the forecasts contained in this document" in Form 20-F. These factors could cause material differences between actual results and our assumptions and forecasts regarding upcoming events, including but not limited to achieving the anticipated level of profitability, growth, cost and effectiveness of our recent acquisitions, the impact of competitive pricing, the ability to obtain the necessary regulatory approvals and confirmations. the state of the Russian economy, the political and legal environment, the volatility of stock markets or the value of our shares or ADRs, financial risk management and the impact of the general business situation and global economic conditions.ALL news [/i]