MECHEL REPORTS SUSPENSION OF WORK AT SEVERAL FACILITIES AT TWO SOUTHERN KUZBASS
MINES

Moscow, Russia — December 6, 2011 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, reports that work was suspended at several
facilities at two of Southern Kuzbass Coal Company’s mines.
Following a check conducted at Lenin Underground and New-Olzherassk mines by the
Mezhdurechensk territorial branch of the Southern Siberian department of the
Federal Agency for Ecological, Technological and Nuclear Monitoring, work at
some of the two mines’ facilities was suspended by order of the Mezhdurechensk
city court.
As of now, most of the monitoring agency’s requirements have been met. Within
Lenin Underground and New-Olzherassk mines’ mining sections, the gas and dust
conditions meet safety standards.
Mining at all facilities of Lenin Underground and New-Olzherassk mines is
planned to be resumed within a few days.

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Mechel OAO
Ekaterina Videman
Tel: + 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, ferrochrome, ferrosilicon, steel, 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.