MOSCOW, Aug. 22, 2019 (GLOBE NEWSWIRE) -- Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports launching Longwall 0-17-18 at V.I. Lenina Underground Mine, which is part of Southern Kuzbass Coal Company.
The new longwall’s industrial coking coal reserves are estimated at 560,000 tonnes. The longwall is 190 meters long, with an average seam height of three meters, the extraction panel is approximately 730 meters.
The longwall is equipped with a 130-section powered support system, a cutter-loader, a burr mill, a pitcar loader and a longwall conveyor. All equipment is up to modern safety standards.
Investment in the project totaled approximately 400 million rubles.
“The new longwall’s launch will enable us to drastically increase the mine’s output capacity and coking coal mining volumes. The monthly load is planned at 70-80,000 tonnes. The coal will be supplied to Russian and foreign steelmakers,” Mechel Mining Management OOO’s Chief Executive Officer Igor Khafizov 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, and 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.