NERUNGRI, Russia, Dec. 27, 2010 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL) announces the collapse of three thickeners at the Nerungrinskaya washing plant of the Yakutugol OAO, the subsidiary of Mechel Mining OAO.
On December 26 at 20:20 local time, three thickeners out of 30 collapsed in the washing shop of the Nerungrinskaya washing plant. There were no casualties or injured.
A special commission was set up to determine the reasons and consequences of the accident.
Works were launched at the site to restore heat and energy supply. Operation at the coking coal wash shop at the Nerungrinskaya plant was halted. However, the technological line processing steam coal is operating as scheduled and accordingly, there will be no delays in supply to the energy enterprises.
In order to load the plant's steam coal processing lines more efficiently, the overburden and extraction plans for the Nerungrinsky open pit are being re-considered. The group plans to step up extraction, processing and shipping of the SS-grade steam coal, which is in steady demand.
Mechel is one of the leading Russian companies operating in four segments: mining, steel, ferroalloys and power. Mechel's operations produce coal, iron ore concentrate, crude steel, rolled steel, ferroalloys, value-added downstream metal products as well as electric and heat power. Mechel markets its products both domestically and internationally.
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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.
CONTACT: Mechel OAO Ekaterina Videman + 7 495 221-88-88 ekaterina.videman@mechel.com