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MOSCOW, Aug. 6, 2013 (GLOBE NEWSWIRE) --
Mechel OAO (NYSE:MTL)
, one of the leading Russian mining and metals companies, announces that it has started supplying coal concentrate to the People's Republic of China by rail through new border checkpoint Makhalino — Hunchun.
The first cargo train was dispatched in early August along the international transport corridor linking the south of Russia's Primorye Region with China's Jilin Province. The first 30-wagon convoy delivered Yakutugol Holding Company OAO's coal to Chinese recipients through the new border checkpoint Makhalino (Russia) — Hunchun (China).
Over 200 officials from Primorye Region, Khasan District, the Far East Railroad, Russian Railways OAO and Chinese Railways attended the opening ceremony for the new border checkpoint.
"Until now, Mechel made major coal deliveries to Chinese customers only through sea ports. The opening of this railroad route will enable Mechel to diversify its logistics and make better time on deliveries to China, which is the world's largest consumer of this type of fuel," Mechel Mining Management Company OOO's Chief Executive Officer Pavel Shtark noted.
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.