Mechel Reports Temporary Halting of Mining Operations at Mechel Bluestone

Due to unfavorable market conditions, mining operations was temporarily halted at all of Mechel Bluestone’s mines and open pits. Some of the company’s washing facilities will continue operating to meet the company’s contractual obligations.

“Temporary halting of mining works at Mechel Bluestone is a coercive measure. Spot prices for coking coal are at their minimum since 2007, which makes coal production at Mechel Bluestone unprofitable. We will make the decision to re-launch depending on the market situation,” Mechel Mining Management OOO’s Chief Executive Officer Pavel Shtark commented.