Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Russian miner and steel producer Mechel has invested RUB470mn ($6.4mn) in launching a new longwall at Southern Kuzbass Coal company, at its Lenina Underground Mine. 


Coking coal from the underground mine is in high demand with the coke producers. Mechel will sell the concentrates produced from the coal in the domestic and internal market, it stated. The new longwall is nearly 200m long and is estimated to have 435,000mt of coal. 


The company recently announced that its expects its steel output to grow by 10pc to 4mn mt this year compared to last year, and this investment will help the firm achieve its goal. 


($1 = RUB72.8)

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