OREANDA-NEWS. February 17, 2010. Veles Capital released daily market review:

Bashneft plans building up the oil extraction in 2010 by 7.9%. Oil extraction by Bashneft will up by 7.9% versus 2009 to 13.195 mn tons, imparts 4Q 2009 report of the company. In 2009 extraction formed 12.23 mn tons.

Mechel will start mining at Elginskoe deposit. According to the data of Vedomosti newspaper, this year Mechel is getting ready to mine the first 200,000 tons of coal at Elginskoe deposit. Special machinery is already arriving to the mine, stripping operations will begin this summer, and first coal will be mined in November. This year the construction of OMPE will be launched also at the deposit. It is not clear when the construction will be completed and up until then coal will be washed at the South Kuzbass plant.