OREANDA-NEWS. Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, reports extending the maturity of its loans from Uralsib Bank, which have earlier been given to Beloretsk Metallurgical Plant OAO and Urals Stampings Plant OAO.

Mechel Group's enterprises - Beloretsk Metallurgical Plant OAO and Urals Stampings Plant OAO - signed agreements with Uralsib Bank for refinancing the loans earlier received from the bank totaling some 72 million US dollars. According to the new agreements, Uralsib Bank will provide Beloretsk Metallurgical Plant OAO and Urals Stampings Plant OAO with new loans for an equivalent amount in rubles, which will mature in 2016.

Mechel is an international mining and steel company which employs over 70,000 people. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high valueadded products.