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PrintMechel OAO (NYSE: MTL), a Russia-based integrated mining and steel company, reported temporary halting of mining facilities of Mechel Bluestone (West Virginia, US), which is part of its mining division.
Mechel decided to temporarily suspend mining at some facilities of Mechel Bluestone's mining complexes -- Keystone, Justice Energy and Dynamic Energy -- due to accumulated inventories of coal.
The Frontier mine in Wyoming County, which is part of Dynamic Energy, as well as the K-2, Red Fox and Coal Mountain washing plants, will continue operating.
Taking into account current contracts, as well as inventories of 650,000 tonnes of raw coal and 345,000 tonnes of finished product, operations at the suspended facilities are expected to resume in two to three months. All obligations under pre-existing contracts will be met.
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. Its business includes four segments: mining, steel, ferroalloy and power.
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