Replies to post #96 on Mechel PAO (MTL)

[I-Man]

New SEC filing release last night for MTL:


MECHEL REPORTS REVIEW OF SUBSOIL LICENSE CONDITIONS FOR ELGA DEPOSIT

Moscow, Russia — June 24, 2013 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces the Federal Subsoil Resources
Management Agency approved the revised schedule for the works under the subsoil
license agreement for development of the Elga coal deposit.
According to the revised license conditions, the first stage of the
9-million-tonne washing complex’s construction must be completed no later than
August 1, 2017. The mining enterprise’s first phase — with no less than a
9-million-tonne coal mining annual capacity — must reach design capacity by no
later than August 1, 2018.
The mining enterprise's second phase with an annual production capacity of no
less than 18 million tonnes must reach design capacity by the end of 2021.
“After we have built the Elga deposit’s entire primary infrastructure required
to bring the coal complex to the industrial level of producing and washing coal,
the license’s revision creates more comfortable conditions for Mechel to
increase production The new subsoil license conditions enable us to implement
the project step by step, launching its facilities in full accordance with
quality standards and on schedule required by construction plans,” Mechel OAO’s
Chief Executive Officer Evgeny Mikhel noted.
***
Mechel OAO
Elena Andreyeva
Tel: + 7 495 221 88 88
[e-mail]
***
Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of coal,
iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products,
hardware, heat and electric power. Mechel products are marketed domestically and
internationally.