PJSC Mechel : Mechel Launches New Longwall at Southern Kuzbass

Rhea-AI Summary

Mechel PAO (NYSE: MTL) has launched a new longwall at Southern Kuzbass Coal Company's V.I. Lenina Underground Mine, involving an investment of approximately 470 million rubles. The new longwall #0-16-10 is set to extract an estimated 435,000 tonnes of high-quality coking coal over the next eight months. Equipped with advanced safety-compliant machinery, this longwall aims to meet both domestic and international demand for coking coal, highlighted by CEO Igor Khafizov's comments on its market potential.

Positive

• Investment of approximately 470 million rubles in new longwall project.
• Estimated reserves of 435,000 tonnes of high-quality coking coal.
• Advanced equipment compliant with modern safety standards.
• Longwall operation expected to last for eight months, supporting production.
• Domestic and international marketing potential for produced concentrate.

Negative

• None.

MOSCOW, RUSSIA / ACCESSWIRE / March 15, 2021 / Mechel PAO (MOEX:MTLR)(NYSE:MTL), one of Russia's leading mining and steel companies, reports launching a new longwall at Southern Kuzbass Coal Company's V.I. Lenina Underground Mine. Investment totaled approximately 470 million rubles.

The new longwall #0-16-10's reserves are estimated at 435,000 tonnes. The average seam height is 1.8 meters, with the longwall nearly 200 meters long with an extraction panel of 720 meters.

The longwall is equipped with a 134-section powered support system, a cutter-loader, as well as a crusher, a longwall conveyor and a belt conveyor. All of the longwall's equipment is compliant with modern industrial and labor safety requirements.

"V.I. Lenina Underground Mine's reserves consist of coking coal with excellent quality characteristics, which is high in demand with coke producers. Southern Kuzbass Coal Company will be working this new longwall for eight months. The concentrate we will produce from its coal will be marketed both domestically and internationally," Mechel Mining Management's Chief Executive Officer Igor Khafizov commented.

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Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com

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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.

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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.

SOURCE: PJSC Mechel

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https://www.accesswire.com/635444/PJSC-Mechel-Mechel-Launches-New-Longwall-at-Southern-Kuzbass

FAQ

What investment did Mechel make for the new longwall project?

Mechel invested approximately 470 million rubles for the new longwall at Southern Kuzbass Coal Company's V.I. Lenina Underground Mine.

What is the estimated reserve of the new longwall #0-16-10?

The estimated reserves for longwall #0-16-10 are 435,000 tonnes of coking coal.

How long will the new longwall operate?

The new longwall is expected to operate for eight months.

What are the safety features of the new longwall's equipment?

All equipment for the new longwall is compliant with modern industrial and labor safety requirements.

Will the coal produced be sold internationally?

Yes, the concentrate produced from the new longwall will be marketed both domestically and internationally.