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	<title>Stock Blog Hub &#187; Mechel Open Joint Stock Company</title>
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		<title>(MTL) Mechel OAO 2011 First Quarter Earnings Soar</title>
		<link>http://www.stockbloghub.com/2011/07/01/mtl-mechel-oao-2011-first-quarter-earnings-soar/78138</link>
		<comments>http://www.stockbloghub.com/2011/07/01/mtl-mechel-oao-2011-first-quarter-earnings-soar/78138#comments</comments>
		<pubDate>Fri, 01 Jul 2011 16:59:10 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Basic Materials]]></category>
		<category><![CDATA[Steel & Iron]]></category>
		<category><![CDATA[Arcelor Mittal]]></category>
		<category><![CDATA[Mechel Open Joint Stock Company]]></category>
		<category><![CDATA[MT]]></category>
		<category><![CDATA[MTL]]></category>

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		<description><![CDATA[Russian mining company Mechel OAO (MTL) recorded a net income of $309.1 million in first quarter 2011 comprehensively beating last year’s consolidated net income of $82.6 million, a jump of 274.3% year over year. Revenues in the first quarter 2011 soared 54.4% year over year to $2.9 billion based on the company’s relentless efforts to increase production. Throughout the quarter the company made concerted efforts to enhance the coal production volumes by modernizing production facilities, perfecting the marketing structure, developing new high value-added products and lastly, by implementing strategic investment projects, which strengthened its market position. Operating profits in the reported quarter climbed more than three times the first quarter profit in 2010 and amounted to $448.4 million, compared with the operating income of $147.6 million in the first quarter ]]></description>
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		<title>(MTL) Mechel OAO Halts Mine Operations</title>
		<link>http://www.stockbloghub.com/2011/06/19/mtl-mechel-oao-halts-mine-operations/76670</link>
		<comments>http://www.stockbloghub.com/2011/06/19/mtl-mechel-oao-halts-mine-operations/76670#comments</comments>
		<pubDate>Sun, 19 Jun 2011 17:29:17 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Basic Materials]]></category>
		<category><![CDATA[Steel & Iron]]></category>
		<category><![CDATA[Arcelor Mittal]]></category>
		<category><![CDATA[Mechel Open Joint Stock Company]]></category>
		<category><![CDATA[MT]]></category>
		<category><![CDATA[MTL]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=76670</guid>
		<description><![CDATA[Russian mining company, Mechel OAO (MTL) temporarily halted operations at its Sibirginskaya mine due to high gas levels in a mined-out area. Mining works at the site were halted and all miners returned to the surface. Luckily, no carbon monoxide was detected in the long wall 3-1-9&#8242;s active mine-working. The mine&#8217;s experts are working on the way to liquidate the source of self-heating. The mine&#8217;s entire production infrastructure, including transport, ventilation, pumps, power facilities, tunneling faces and active mine-working areas are operational and safe. The date when mining is resumed will be determined once the project of liquidating the source of self-heating is complete. The company will not suffer much losses as the mine&#8217;s storages hold enough coal for the company to meet all its contractual obligations. Halting the mine&#8217;s ]]></description>
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		<title>(MTL) Mechel OAO Gets B1 Rating by Moody&#8217;s Investors Service</title>
		<link>http://www.stockbloghub.com/2010/05/25/mtl-mechel-oao-gets-b1-rating-by-moodys-investors-service/38347</link>
		<comments>http://www.stockbloghub.com/2010/05/25/mtl-mechel-oao-gets-b1-rating-by-moodys-investors-service/38347#comments</comments>
		<pubDate>Tue, 25 May 2010 15:18:44 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Basic Materials]]></category>
		<category><![CDATA[Steel & Iron]]></category>
		<category><![CDATA[MCO]]></category>
		<category><![CDATA[Mechel Open Joint Stock Company]]></category>
		<category><![CDATA[Moody's Corporation]]></category>
		<category><![CDATA[MTL]]></category>

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		<description><![CDATA[Shares of Russian metals and mining company, Mechel OAO (MTL) slipped 5.78% or $1.22 per share to close at $19.90 on Monday after being assigned a “B1&#8243; corporate credit rating by Moody&#8217;s Investors Service, a unit of Moody&#8217;s Corp.(MCO). Credit rating agency, Moody’s judges obligations rated B as speculative and subject to high credit risk and have generally poor credit quality. Such ratings are considered non-investment or &#8220;junk&#8221; grade. Moody’s corporate credit rating reflects Mechel&#8217;s subdued financial results during the recession. Falling prices and volumes have hurt Mechel’s 2009 results, where revenues declined 42.2% to $5.8 million, while net earnings were significantly down 93.5% to $73.7 million. As of December 31, 2009, Mechel’s long-term debt totaled $4.1 billion against cash and cash equivalents of $414.7 million. However, Moody’s has provided a ]]></description>
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		<title>(MTL) Mechel OAO&#8217;s $1 Billion Credit Line Extended</title>
		<link>http://www.stockbloghub.com/2010/03/09/mtl-mechel-oaos-1-billion-credit-line-extended/30175</link>
		<comments>http://www.stockbloghub.com/2010/03/09/mtl-mechel-oaos-1-billion-credit-line-extended/30175#comments</comments>
		<pubDate>Tue, 09 Mar 2010 22:58:06 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Basic Materials]]></category>
		<category><![CDATA[Steel & Iron]]></category>
		<category><![CDATA[Mechel Open Joint Stock Company]]></category>
		<category><![CDATA[MTL]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=30175</guid>
		<description><![CDATA[Russian steel and coking coal producer Mechel OAO (MTL) recently announced that its $1 billion credit facility with Gazprombank has been doubled to six years with a reduced interest rate. Mechel will begin repayment of the facility, which was used to finance operations and pay down short-term debt, in three years. Gazprombank is part of energy giant Gazprom&#8217;s business empire. In February 2009, Gazprombank had opened credit lines totaling $1 billion for Mechel Mining&#8217;s subsidiaries. The credit facilities provided were used to finance the group&#8217;s current operations, which allowed it to repay a part of its short-term debt. Mechel Steel, a leading mining and steel company in Russia, is focusing on growth and cost-cutting measures. The company has entered into various agreements to supply its rail products to large Russian ]]></description>
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		<title>(MTL) Mechel OAO Commissions Steel Processing Facility</title>
		<link>http://www.stockbloghub.com/2009/12/01/mtl-mechel-oao-commissions-steel-processing-facility/21636</link>
		<comments>http://www.stockbloghub.com/2009/12/01/mtl-mechel-oao-commissions-steel-processing-facility/21636#comments</comments>
		<pubDate>Wed, 02 Dec 2009 00:56:51 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Basic Materials]]></category>
		<category><![CDATA[Steel & Iron]]></category>
		<category><![CDATA[Mechel Open Joint Stock Company]]></category>
		<category><![CDATA[MTL]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=21636</guid>
		<description><![CDATA[One of Russia’s leading metal and mining companies, Mechel OAO (MTL) commissioned its integrated steel processing facility (ladle furnace) at the oxygen-converter shop of its Chelyabinsk Metallurgical Plant OAO subsidiary. Investments for the construction and commissioning of the ladle furnace amounted to 1.05 billion rubles ($35.9 million). Mechel stated that the launch of the ladle furnace is another step to shutting down the highly expensive technology of rolling production which includes ingot casting and blooming processing. After the launch, the share of steel billets produced by the continuous casting technology at the plant will rise up to 50%. As a result, the performance of the Chelyabinsk Metallurgical Plant operations will increase considerably. The commissioned ladle furnace will process about 1.2 million tons of steel per year. Increase in steel processing ]]></description>
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		<title>(MTL) Mechel OAO Recovers</title>
		<link>http://www.stockbloghub.com/2009/11/12/mtl-mechel-oao-recovers/20378</link>
		<comments>http://www.stockbloghub.com/2009/11/12/mtl-mechel-oao-recovers/20378#comments</comments>
		<pubDate>Thu, 12 Nov 2009 16:25:38 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Basic Materials]]></category>
		<category><![CDATA[Steel & Iron]]></category>
		<category><![CDATA[Mechel Open Joint Stock Company]]></category>
		<category><![CDATA[MTL]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=20378</guid>
		<description><![CDATA[Mechel OAO (MTL), one of Russia’s leading mining and metallurgical companies, has reported results for its second quarter and first half of 2009. For the first half of 2009, Mechel reported revenues of $2.4 billion, down 54% from the year-ago period. The company reported net losses of $471.4 million in contrast to net income of $41.1 billion year over year. However, Mechel managed a net income of $219.3 million in the reported quarter after posting losses in the last two quarters. Revenues inched up 8.6% sequentially to $1.3 billion on higher sales volumes. Before this, revenues were impacted by weak demand for steel and coking coal as well as foreign exchange losses. The Steel segment generated 57% of revenues, which slipped 53.5% year over year to $1.40 billion in the ]]></description>
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