Bloomberg News

Russian Regulator Says It Hasn’t Revoked Mechel Unit’s Licenses

March 26, 2012

Russia’s environmental regulator said it hasn’t withdrawn licenses belonging to OAO Mechel (MTLR)’s South Kuzbass unit, according to a statement on its website.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

To contact the editor responsible for this story: Frank Connelly at

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