Advertisement Mechel PAO, one of the leading Russian mining and metals companies, has announced its 1Q21 operational results. Mechel PAO’s CEO, Oleg Korzhov, commented on operational results: “Our operational dynamics in 1Q21 were largely what they were due to conditions our company worked in last year, caused by both external and internal factors. Even as the decrease in debt leverage due to restructuring and partial repayment of our loans had its positive impact; starting in April – May, Mechel felt the lack of cash flow sufficient for financing our operations as needed. This was due to a major slump in coal and steel prices because of the pandemic. Underfunding of our operations in 2H20 led to a major reduction in stripping and negative dynamics in coal mining and sales in 1Q21 accordingly. The steel division had a similar situation.