Mechel announces the launch of a new production site at the Sibirginskaya mine
Myski, Russia - April 5, 2021 - Mechel PAO (MICEX: MTLR, NYSE : MTL), a leading Russian mining and metallurgical company, announces the commissioning of the second section of the longwall face 3-1-11 at the Sibirginskaya mine, part of the Yuzhny Kuzbass coal company. Investments exceeded 300 million rubles.
Lava 3-1-11 is located at a depth of 450 meters. Commercial reserves of coal at the new production site are estimated at 1.5 million tons. The extracted seam thickness is 4 meters, the length of the working face is 220 meters, the length of the extraction pillar is 1,070 meters.
The second section of the longwall is equipped with a shearer, a crushing plant, a reloader, 130 sections of powered support, as well as a face conveyor length of 220 meters. All equipment meets modern safety requirements.
“Lava with total reserves of over 3.5 million tons was put into operation in the fall of 2019, in its first section we produced more than one million tons of coking coal. In the near future, we will start preparing mine workings for the third section, which we are to launch at the end of 2022, ”said Igor Khafizov, General Director of Mechel Mining Management Company LLC.
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Mechel PAO Ekaterina Videman Tel .: +7-495-221-88-88ekaterina.videman@mechel.com
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Mechel is a global mining and a 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.
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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, volatility in 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.
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