Mechel Reports Launch of New Longwall at Southern Kuzbass
November 08 2018 - 7:00AM
Mechel PAO (MOEX: MTLR, NYSE:
MTL), one of the leading Russian mining and metals
companies, reports launching Longwall 21-1-11 at Olzherasskaya
Novaya Underground Mine which is part of Southern Kuzbass Coal
Company.
The new longwall’s industrial coal reserves are
estimated at 3.6 million tonnes. The longwall is 200 meters long,
the extraction panel is approximately 1,660 meters.
Mining at the longwall will be conducted by a
stoping complex including a 135-section powered support system, a
high-performance cutter-loader, a breaker, a loader, a longwall and
a goaf conveyor. Investment in the project totaled 270 million
rubles.
Miners at Olzherasskaya Novaya Underground’s
Longwall 21-1-11 use a special sub-level caving method, which
enables thick seam mining in one coal layer of up to 10 meters,
extracting maximum volumes of coal in one go while decreasing the
risk of breeding fire. This technology was proved most efficient in
these geological conditions.
“After washing, the coal mined here will be sold
to Russian and foreign power generating and steelmaking companies.
The monthly load is planned at 150,000 tonnes, and our personnel
will work this longwall for about two years,” Mechel Mining
Management OOO’s Chief Executive Officer Pavel Shtark noted.
Mechel PAOEkaterina VidemanTel: + 7 495 221 88
88ekaterina.videman@mechel.com
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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