Russia’s environmental regulator said it hasn’t withdrawn licenses belonging to OAO Mechel (MTLR)’s South Kuzbass unit, according to a statement on its website.

“We consider inappropriate the dissemination of false information with reference to an unnamed source at Rosnedra,” according to the statement from Rosnedra, a regional unit of the Federal Subsoil Resource Agency. The incorrect information led to a drop in the company’s market capitalization, the statement shows.

To contact the reporter on this story: Jason Corcoran in Moscow at jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net