Moscow, Russia – March 3, 2008 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces its interest in acquiring Oriel Resources Plc (Oriel).
Mechel OAO is currently contemplating the acquisition of Oriel. This process is at an early stage and there can be no certainty that any offer will ultimately be forthcoming.
Oriel Resources Plc is a London-based chrome and nickel mining and processing company, which listed on the Alternative Investment Market (AIM: ORI) of the London Stock Exchange in March 2004 and the Toronto Stock Exchange (TSX: ORL) in February 2005. Key assets of Oriel include: the Tikhvin smelter, the Voskhod chrome and the Shevchenko nickel projects.
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