This article is part of a 20 article special report on "Metals, miners and money".
Among resource plays, international investing expert Nick Vardy says, "Mechel Open Joint Stock Company (NYSE: MTL) is one of Russia's largest mining and metals companies a producing steel, as well as processed coal and metal products used in mining industries.
In his Global Bull Market Alert, the advisor explains, "Mechel's rise from relative obscurity has been rapid. Rising metals prices and industry consolidation have more than quadrupled Mechel's sales from a mere $1 billion in 2001 to $4.4 billion last year.
"In announcing its first half 2007 in October, Mechel confirmed that its breathtaking growth still is on track. Both business segments -- mining and steel -- demonstrated high operational results. Crude steel production was up 4% year-on-year, with rolled products up 11%. Coal output rose 10%, driven by a 29% rise in steam coal output. Nickel output also rose 22%.
"But it was the company's financial results that knocked analysts' socks off. Revenue rose a whopping 55% to $2.99 billion during the first six months of 2007, compared to the same period of 2006. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 136% to $813.7 million.
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