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Strong results for Mechel

LEADING Russian mining and metals company Mechel has reported outstanding results for 2007, with ...

Christine Feary
Strong results for Mechel

Mechel chief executive Vladimir Polin said 2007 was an exceptionally successful year for the company, with increased output of all main products.

"Due to the successful implementation of the technical re-equipment program for Mechel's mining subsidiaries, our coal production has grown significantly, having surpassed our planned indicators by nearly 3.0 million tonnes," he said.

The increase in coal production was helped by several acquisitions during the year, including a full takeover of Yakutugol OJSHC, Russia's biggest exporter of coking coal.

Overall, Mechel produced more than 21Mt of coal, an increase of almost 25%, with thermal coal making up most of the coal production.

Coal production figures for 2007 include Yakutugol's fourth-quarter production.

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