Mezhdurechensk, Russia – October 07, 2019 – Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports launching a new longwall at Sibirginskaya Underground Mine which is part of Southern Kuzbass Coal Company.
The new longwall 3-1-11 lies 450 meters deep. The longwall is 220 meters long, with an average seam height of four meters and an extraction panel of 750 meters.
Investment in the project totaled over 838 million rubles.
The longwall is equipped with a cutter-loader, a belt car and a crusher, drag bar conveyor, a 400- and a 1,500-meter belt conveyors, and a 130-section powered support system. To ensure high production efficiency and labor safety, the mine also acquired a mobile vacuum air pump degasser.
“The longwall 3-1-11 with estimated coking coal reserves of 3.5 million tonnes is equipped with the newest mining machines acquired as part of Mechel’s investment program. Its planned monthly output is 90,000 tonnes,” Mechel Mining Management OOO’s Chief Executive Officer Igor Khafizov noted.
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Mechel is an international mining and steel company. 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.
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October 7, 2019 at 12:37PM