OREANDA-NEWS. May 05, 2014. Mechel (NYSE: MTL), one of the leading Russian mining and metals companies, reports the temporary halting of mining at Mechel Bluestone (West Virginia, USA), which is part of the Group’s mining division.

Due to unfavorable market conditions, mining operations were temporarily halted at all of Mechel Bluestone’s mines and open pits. Some of the company’s washing facilities will continue operating to meet the company’s contractual obligations.

“Temporary halting of mining works at Mechel Bluestone is a coercive measure. Spot prices for coking coal are at their minimum since 2007, which makes coal production at Mechel Bluestone unprofitable. We will make the decision to re-launch depending on the market situation,” Mechel Mining Management OOO’s Chief Executive Officer Pavel Shtark commented.