Bloomberg News

Mechel ADRs Decline Most in Month After Mines Shuttered

December 06, 2011

(Adds closing price in second paragraph.)

Dec. 6 (Bloomberg) -- OAO Mechel, Russia’s largest producer of steel-making coal, fell the most in a month in U.S. trading after the miner stopped work at two sites amid safety concerns.

Mechel’s American depositary receipts dropped 11 percent to $10.45 in New York, the biggest decline since Nov. 9.

Several facilities at the company’s Lenin and New- Olzherassk mines were shut following complaints to the Siberian branch of Russia’s industrial safety watchdog, Mechel said in a statement today.

--Editors: Emma O’Brien, Brendan Walsh

To contact the reporter on this story: Halia Pavliva in New York at hpavliva@bloomberg.net;

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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