**Exhibit 8.1**

| ** **                                                                          | ** ** | ** **    | ** ** | ** **                   | ** ** | **Date control**  | ** ** | **Interest in voting stock held by  the Group at December 31,** | ** ** |
|-------------------------------------------------------------------------------------|------------|---------------|------------|------------------------------|------------|------------------------|------------|--------------------------------------------------------------------------------------------------------------|------------|
| **Name of subsidiary**                                                    | ** ** | ** **    | ** ** | **Registered in**       | ** ** | **Core business** | ** ** | **acquired(*)**                                                                                              | ** ** | **   2006   ** | ** ** | **   2005   ** | ** ** | **   2004   ** | ** ** |
| Mechel International Holdings AG (MIH)(1)                                           |       | Switzerland   |       | Holding  and trading         |       | July 1,  1995     |       |                                                                                                         | 100.0      | % |   |   | 100.0 | % |   |   | 100.0 | % |   |
| Mechel Metal Supply AG (MMS)                                                        |       | Liechtenstein |       | Trading                      |       | Oct  30, 2000          |       |                                                                                                         | 100.0      | % |   |   | 100.0 | % |   |   | 100.0 | % |   |
| Mechel Trading House (MTH)                                                          |       | Russia        |       | Holding  and trading         |       | June 23,  1997    |       |                                                                                                         | 100.0      | % |   |   | 100.0 | % |   |   | 100.0 | % |   |
| Southern Kuzbass Coal Company (SKCC),  including its most significant subsidiaries: |       | Russia        |       | Holding  and trading         |       | Jan  21, 1999          |       |                                                                                                         | 93.5       | % |   |   | 93.7 | % |   |   | 96.6 | % |   |
| Sibirginsk Open Pit Mine (SOPM)**                                                   |       | Russia        |       | Coal  mining                 |       | Jan  21, 1999          |       |                                                                                                         | —     |   |   |   | — |   |   |   | 90.4 | % |   |
| Krasnogorsk Open Pit Mine (KOPM)****                                                |       | Russia        |       | Coal  mining                 |       | Jan  21, 1999          |       |                                                                                                         | —     |   |   |   | 88.9 | % |   |   | 87.4 | % |   |
| Tomusinsk Open Pit Mine (TOPM)                                                      |       | Russia        |       | Coal  mining                 |       | Jan  21, 1999          |       |                                                                                                         | 74.4       | % |   |   | 74.4 | % |   |   | 74.4 | % |   |
| Olzherassk Open Pit Mine (OOPM)                                                     |       | Russia        |       | Coal  mining                 |       | Dec  28, 1999          |       |                                                                                                         | 82.9       | % |   |   | 81.9 | % |   |   | 80.6 | % |   |
| Kuzbass Central Processing Plant (KCPP)**                                           |       | Russia        |       | Coal  processing             |       | Dec  31, 2000          |       |                                                                                                         | —     |   |   |   | — |   |   |   | 95.0 | % |   |
| Lenin Mine (LM)****                                                                 |       | Russia        |       | Coal  mining                 |       | Dec  29, 2001          |       |                                                                                                         | —     |   |   |   | 79.0 | % |   |   | 78.5 | % |   |
| Usinsk Mine (UM)***                                                                 |       | Russia        |       | Coal  mining                 |       | Dec  29, 2001          |       |                                                                                                         | —     |   |   |   | 80.2 | % |   |   | 78.6 | % |   |
| Siberian Central Processing Plant (SCPP)**                                          |       | Russia        |       | Coal  processing             |       | Dec  22, 2000          |       |                                                                                                         | —     |   |   |   | — |   |   |   | 90.8 | % |   |
| Chelyabinsk Metallurgical Plant (CMP)                                               |       | Russia        |       | Steel  products              |       | Dec  27, 2001          |       |                                                                                                         | 93.7       | % |   |   | 93.7 | % |   |   | 86.9 | % |   |
| Southern Urals Nickel Plant (SUNP)                                                  |       | Russia        |       | Nickel                       |       | Dec  27, 2001          |       |                                                                                                         | 79.9       | % |   |   | 79.9 | % |   |   | 79.3 | % |   |
| Vyartsilya Metal Products Plant (VMPP)                                              |       | Russia        |       | Steel  products              |       | May 24,  2002     |       |                                                                                                         | 93.3       | % |   |   | 93.3 | % |   |   | 93.4 | % |   |
| Beloretsk Metallurgical Plant (BMP)                                                 |       | Russia        |       | Steel  products              |       | June 14,  2002    |       |                                                                                                         | 90.4       | % |   |   | 90.3 | % |   |   | 90.2 | % |   |
| Mechel Targoviste SA                                                                |       | Romania       |       | Steel  products              |       | Aug  28, 2002          |       |                                                                                                         | 86.6       | % |   |   | 83.7 | % |   |   | 81.0 | % |   |
| Mechel Zeljezara (MZ)                                                               |       | Croatia       |       | Steel  products              |       | March 17,  2003   |       |                                                                                                         | 100        | % |   |   | 100.0 | % |   |   | 100.0 | % |   |
| Ural Stampings Plant (USP)                                                          |       | Russia        |       | Steel  products              |       | April 24,  2003   |       |                                                                                                         | 93.8       | % |   |   | 93.8 | % |   |   | 93.8 | % |   |
| Korshunov Mining Plant (KMP)                                                        |       | Russia        |       | Iron  ore mining             |       | Oct  16, 2003          |       |                                                                                                         | 85.6       | % |   |   | 85.5 | % |   |   | 75.0 | % |   |
| Mechel Campia Turzii SA                                                             |       | Romania       |       | Steel  products              |       | June 20,  2003    |       |                                                                                                         | 86.56      | % |   |   | 84.9 | % |   |   | 81.0 | % |   |
| Mechel Nemunas (MN)                                                                 |       | Lithuania     |       | Steel  products              |       | Oct  15, 2003          |       |                                                                                                         | 100.0      | % |   |   | 100.0 | % |   |   | 100.0 | % |   |
| Mechel Coal Resources (MCR)                                                         |       | Kazakhstan    |       | Coal  mining and  processing |       | Dec  31, 2003          |       |                                                                                                         | —     |   |   |   | — |   |   |   | 100.0 | % |   |
| Mechel Energo                                                                       |       | Russia        |       | Energy  trading              |       | Feb 3,  2004           |       |                                                                                                         | 100.0      | % |   |   | 100.0 | % |   |   | 100.0 | % |   |
| Port Posiet                                                                         |       | Russia        |       | Transportation               |       | Feb  11, 2004          |       |                                                                                                         | 96.93      | % |   |   | 80.0 | % |   |   | 80.0 | % |   |
| Izhstal                                                                             |       | Russia        |       | Steel  products              |       | May 14,  2004     |       |                                                                                                         | 87.9       | % |   |   | 87.7 | % |   |   | 62.3 | % |   |
| Port Kambarka                                                                       |       | Russia        |       | Transportation               |       | April 27,  2005   |       |                                                                                                         | 90.4       | % |   |   | 90.4 | % |   |   | — |   |   |
| Kaslinsky Architectural Art Casting Plant                                           |       | Russia        |       | Steel  products              |       | April 14,  2004   |       |                                                                                                         | 100.0      | % |   |   | 100.0 | % |   |   | 100.0 | % |   |
| Mechel Trading Ltd.                                                                 |       | Switzerland   |       | Trading                      |       | Dec. 20,  2005    |       |                                                                                                         | 100.0      | % |   |   | 100.0 | % |   |   | — |   |   |
| Metals Recycling OOO                                                      |       | Russia        |       | Scrap  collecting            |       | March 14,  2006   |       |                                                                                                         | 100.0      | % |   |   | — |   |   |   | — |   |   |
| Mechel Hardware OOO                                                                 |       | Russia        |       | Trading                      |       | March 21,  2006   |       |                                                                                                         | 100.0      | % |   |   | — |   |   |   | — |   |   |
| Moscow Coke and  Gas Plant (Moskoks)                                                |       | Russia        |       | Coke production              |       | Oct 4, 2006            |       |                                                                                                         | 98.94      | % |   |   | — |   |   |   | — |   |   |
|                                                                                     |            |               |            |                              |            |                        |            |                                                                                                              |            |  |  |  |  |  |  |  |  |  |  |  |  |

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*                            Date when a control interest was acquired by either theGroup or Controlling Shareholders.

**                       Merged with SKCC in October - December 2005

***                  Merged with Lenin Mine in March 2006

****             Merged with SKCC in October 2006

(1)                      Formerly—Mechel Trading AG (MT). Renamed on December 20,2005

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