MECHEL ANNOUNCES RE-LAUNCH OF NERUNGRISKAYA WASHING PLANT

Nerungri, Russia – February 14, 2011 – Mechel OAO (NYSE: MTL), one of the
leading Russian mining and steel companies, announces the re-launching of the
Nerungrinskaya washing plant at Yakutugol OAO, following the accident on
December 26 which saw the collapse of three thickeners in the washing shop.
The washing plant’s coking coal concentrate production equipment was started
back upon February 10. Operations were resumed at the washing shop’s second and
third sections, which at full load will allow the plant to maintain pre-accident
levels of concentrate production.  Repairs are ongoing at the shop’s first
section.
The Nerungrinskaya washing plant’s re-start was preceded by major repair works
to eliminate the accident’s aftereffects, restore steelwork, strengthen the
thickeners’ assembly and prepare the equipment for operation.
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Mechel OAO
Ekaterina Videman
Phone: + 7 495 221 88 88
ekaterina.videman@mechel.com
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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, steel, ferrochrome, ferrosilicon, rolled products,
hardware, heat and electric power. Mechel products are marketed domestically and
internationally.
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Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you to
the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our
Form 20-F, that could cause the actual results to differ materially from those
contained in our projections or forward-looking statements, including, among
others, the achievement of anticipated levels of profitability, growth, cost and
synergy of our recent acquisitions, the impact of competitive pricing, the
ability to obtain necessary regulatory approvals and licenses, the impact of
developments in the Russian economic, political and legal environment,
volatility in stock markets or in the price of our shares or ADRs, financial
risk management and the impact of general business and global economic
conditions.