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MOSCOW, Aug. 5, 2013 (GLOBE NEWSWIRE) --
Mechel OAO (NYSE:MTL)
, one of the leading Russian mining and metals companies, announces holding successful tests of equipment producing coking coal concentrate at the Elga coal deposit's seasonal washing plant (the Republic of Sakha (Yakutia)).
Adjusting and start-up procedures for the equipment for producing coking coal concentrate at Elga seasonal washing plant were completed. The plant is due to be launched at full capacity before the end of August. Production work shifts were formed in order to ensure the plant's round-the-clock operation.
Before the end of this year's season, the factory will process about 50,000 tonnes of raw coal. The test batch produced at the washing plant will be sent to Chelyabinsk Coke and Chemical Products Plant (Mechel Coke), which is part of the Group's mining segment. Next year the Group plans to consider the possibility of exporting coking coal concentrate to foreign consumers.
Mechel is an international mining and steel company which employs over 80,000 people. 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.