Mechel, one of the leading Russian
mining and metals companies, has announced the temporary halting of
mining at
Mechel Bluestone in West Virginia,
US, which is part of the company's
mining division.
Due to unfavorable market conditions,
mining operations have been 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.
Mechel pointed out that spot prices for
coking coal are at their minimum since 2007, which makes coal
production at
Mechel Bluestone unprofitable. The company will make the decision to relaunch
production depending on the market situation.