The company, which is controlled by businessman Igor Zyuzin and came close to bankruptcy last year, circulated the final draft of a restructuring proposal among its creditors.
Mechel Mining News
No signs of production slowdown in major coal-exporting countries.
Russian mining and metals giant Mechel listed in New York where it has a market capitalization just shy of $11bn, reported on Tuesday winning the auction for the subsoil license for Pionerskoye iron ore deposit, sending its ADRs up 3.5% in midday trade. Pionerskoye's estimated reserves as of January 1, 2010 were 137m tonnes of iron ore with high iron content, which will enable the company to produce iron ore concentrate at the early stages of development without the need to use complex beneficiation technologies.
Mechel, one of Russia's leading mining and metals companies, has commissioned new modern backhoe excavators at its iron ore mining subsidiary, Korshunov Mining Plant OAO, and at its nickel mining subsidiary, Southern Urals Nickel Plant […]