MECHEL REPORTS SUCCESSFUL INTERMEDIATE INDUSTRIAL TESTING OF UVATSK DEPOSIT
QUARTZITES

Bratsk, Russia –  March 9, 2011  – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, reports that the group’s Bratsk Ferroalloy
Plant began test melting of an industrial probe of quartzites from the plant’s
own resource base, the Uvatsk deposit.
The intermediate results of melting of the industrial probe of quartzites, the
main raw material used in ferrosilicon production, showed that the Uvatsk
deposit’s reserves are suitable for production of ferrosilicon with 65% silicon
content, which is most demand.
The test melting, which is conducted in one of the plant’s furnaces, will
continue until May 2011. By that time, Bratsk Ferroalloy Plant will use some
10,000 tonnes of quartzites in its furnaces. The results, received after the
entire test lot is used, will enable the determination the material’s final
industrial and technological characteristics and thus make further usage of
Uvatsk quartzites as efficient as possible.
“Transferring production to use of quartzites from our own deposit will not only
allow the plant to be independent of external sources, but also get new
qualitative measures of the final product, which will have a positive impact on
the economic and industrial results of Mechel Group’s ferroalloy segment,” said
Gennady Ovchinnikov, Chief Executive Officer of Mechel Ferroalloys Management
Company OOO.
Bratsk Ferroalloy Plant won the tender for the rights to utilize the subsoil
plot on the Uvatsk deposit of quartzite and quartz sandstones in May 2008. The
Uvatsk deposit is located in the Irkutsk Region, approximately 24 kilometers
from the town of Nizhneudinsk.  Industrial exploitation of the Uvatsk quartzite
deposit is due to be launched in the second half of 2011, once the reserves
receive state registration.

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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 Russia’s leading companies. Its business is primarily composed
of  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.