Mechel Reports Suspension of Work at Several Facilities at New-Olzherassk Mine

Moscow, Russia — February 10, 2012 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, reports that work was temporarily halted at several facilities at New-Olzherassk mine which is part of Southern Kuzbass Coal Company.

Following a check conducted by the Mezhdurechensk territorial branch of the Southern Siberian department of the Federal Agency for Ecological, Technological and Nuclear Monitoring, mining at New-Olzherassk mine was suspended by order of the Mezhdurechensk city court.

As of now, work on meeting the monitoring agency’s requirements is almost complete. Mining at all of New-Olzherassk mine’s facilities is planned to be resumed shortly.

Considering that production at the mine has been going ahead of schedule, the temporary halting will not affect Southern Kuzbass Coal Company’s meeting its operational commitments.

Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.