Mechel, one of the leading mining and metals companies in Russia, has announced the receipt of antitrust clearance from the relevant Russian and Kazakh authorities for its proposed acquisition of the London-listed nickel and chrome mining and processing company Oriel Resources Plc.
Mechel's offer still remains subject to the terms and other conditions set out in the offer document submitted to Oriel.
Oriel's shareholders, who have not yet accepted the offer, have until no later than 1.00 pm GMT on April 16, 2008 to do so.