Mechel Ordered to Suspend Work at Several Facilities at Two Southern Kuzbass Mines After Safety Inspection; Shares Down 9%

By Staff,

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Mechel OAO ( MTL ) today announced that it has suspended operations at several facilities at two of Southern Kuzbass Coal Company's mines as ordered by the city court of Mezhdurechensk.

The suspension was implemented after the Mezhdurechensk territorial branch of the Southern Siberian department of the Federal Agency for Ecological, Technological and Nuclear Monitoring conducted an inspection at Lenin Underground and New-Olzherassk mines.

MTL said that most of the agency's requirements for gas and dust conditions of within the two mines have been met, and work is planned to be resumed within a few days.

Shares are down 9% to $10.68.

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This article appears in: Investing Commodities
Referenced Stocks: MTL

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