logo
Share SHARE
FONT-SIZE Plus   Neg

Mechel Reports Suspension Of Southern Kuzbass Coal's Olzherassk Underground Mine

Mechel OAO (MTL) announced that coal mining at Southern Kuzbass Coal Company OAO's New-Olzherassk Underground mine's long wall face # 21-1-7 has been temporarily halted due to coal self-heating.

The company stated that High levels of carbon monoxide were registered in New-Olzherassk Underground mine's long wall face # 21-1-7, which is proof of coal self-heating. Mining operations are currently suspended.

The mine infrastructure, including its transport, ventilation system, dewatering, power facilities and roadheaders, is in working condition and safe, the company said.

The company stated that the timing for resumption of mining will be determined once the project for eliminating self-heating is completed.

The company stated that the suspension of the mine will not cause delay in coal deliveries to customers since there is enough coal at the New-Olzherassk Underground mine warehouse to ensure uninterrupted deliveries within the company's existing contractual obligations.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Best Inc., a 23.4 percent owned by e-commerce major Alibaba Group, filed for Initial Public Offering in the U.S. According to the filing, Best expects to offer $750 million american depository shares. We urge Investors to take advantage of the weakness in the shares of Applied Optoelectronics, Inc. (AAOI), as we believe the stock has at least 15% upside from current levels. The stock is down along with many of the stocks in the Fiber optical component universe with an exposure to China. Nestle SA's shares were gaining around 4 percent in Zurich trading after billionaire activist investor Daniel Loeb's hedge fund Third Point LLC bought a $3.5 billion stake in the Swiss food giant. The acquisition of about 1.25% stake in Nestle would put pressure on the company to find ways to accelerate growth.
comments powered by Disqus
Follow RTT