Russian mining company Mechel has suspended coal operations due to deepening financial losses, halting production at one mine and reducing output of unprofitable coal grades. The company reported a 28% decline in coal output to 3.66 million tonnes in the first half of 2025. Mechel’s loss widened to Rbs40.5bn, with a net debt burden of Rbs252.7bn. Despite government support measures, the industry faces challenges such as declining prices and rising costs. Industry officials warn that around 30 enterprises with an annual output of 30mt are at risk of bankruptcy. Mechel is in talks with creditors for further debt deferrals.

Read more at Yahoo Finance: Russian miner Mechel makes production cuts amid deepening losses