Mechel OAO is a Russia-based vertically integrated mining and metals company. The mining business consists of coal, iron ore and nickel mines in Russia. The Company also provide coal washing services, both to the coal-mining subsidiaries and to third parties. The steel business comprises the production and sale of semi-finished steel products, carbon and specialty long products, carbon and stainless flat products and downstream metal products, including hardware, stampings and forgings. It is also engaged in the power business. In April 2008, it acquired Ductil Steel S.A. As of January 1, 2008, the Company had coal reserves totalling 510.3 million tons, of which approximately 44.4% was coking coal. As of January 1, 2008, the Company had iron ore reserves totalling 50.9 million tons at an average iron grade of 29%. On September 24, 2008, Mechel OAO, through its subsidiary, Mechel Service OOO, announced the acquisition of a 100% stake in HBL Holding GmbH.

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