Mechel plans to boost coal production 50%-80% in 2010 to 30 mln tonnes
MOSCOW. April 21 (Interfax) - The Mechel coal and steel group plans to boost coal production 50%-80% in 2010 to 30 million tonnes, Senior Vice President Vladimir Polin said in a conference call on Wednesday.
"Production this year is on track to beat the record level in 2008," he said.
Coking coal will account to 17 million-18 million tonnes of the total, he said.
Yakutugol plans to produce 10 million tonnes, Southern Kuzbass Coal Company - 16 million tonnes and Mechel Bluestone - 3.5 million tonnes.
Mechel reduced coal production 33% to 17.8 million tonnes in 2009 (including production at Bluestone beginning on May 1, 2009), including 10.2 million tonnes of coking coal. It produced 26.39 million tonnes of coal in 2008.
Mechel Mining includes Southern Kuzbass Coal , Yakutugol and Korshunov Mining Plant .
General Director Igor Zyuzin is Mechel's chief beneficiary. The free float (ADR) is 25%.
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