MOSCOW, Dec. 26, 2014 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the leading Russian mining and metals companies, reports that Trade Port Posiet's annual cargo volume has reached 5 million tonnes of coal products by December 25. This is the best result in the port's history.
The shipment including the 5-millionth tonne of coal was expedited to People's Republic of China.
This record was made possible by the launch of the trial run of a specialized coal terminal in the first quarter of 2014. Coal is mostly unloaded by two wagon dumpers, which doubles the transshipment speed. In 2015 the port will reach the capacity of 7 million tonnes of coal.
Considering the port infrastructure's future upgrading, which includes construction of a sea terminal and an approach channel for Panamax-type vessels with cargo capacity of up to 60,000 tonnes, Trade Port Posiet's turnover is planned to reach 12 million tonnes of coal in the mid-term.
Mechel is an international mining and steel company which employs over 80,000 people. 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.