**Exhibit 8.1**

** **
| **Name  of subsidiary**                                                             | ** ** | ******Registered  in** | ** ** | ******Core  business** | ** ** | **Date  control********acquired  (*)** | ** ** | **Interest  in voting stock held by********the  Group at December 31,** | ** ** |
|-------------------------------------------------------------------------------------|------------|------------------------|------------|------------------------|------------|----------------------------------------|------------|-------------------------------------------------------------------------|------------|
| ** **                                                                          | ** ** | ** **             | ** ** | ** **             | ** ** | ** **                             | ** ** | **2005**                                                                | ** ** | **2004** | ** ** | **2003** | ** ** |
| 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 | % | 75.0 | % |
| 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                           |       | 93.7                                                                    | %          | 96.6 | % | 96.0 | % |
| Sibirginsk Open  Pit Mine (SOPM)***                                                 |       | Russia                 |       | Coal mining            |       | Jan 21, 1999                           |       | —                                                                  |       | 90.4 | % | 86.3 | % |
| Krasnogorsk  Open Pit Mine (KOPM)                                                   |       | Russia                 |       | Coal mining            |       | Jan 21, 1999                           |       | 88.9                                                                    | %          | 87.4 | % | 77.7 | % |
| Tomusinsk Open  Pit Mine (TOPM)                                                     |       | Russia                 |       | Coal mining            |       | Jan 21, 1999                           |       | 74.4                                                                    | %          | 74.4 | % | 74.2 | % |
| Olzherassk Open  Pit Mine (OOPM)                                                    |       | Russia                 |       | Coal mining            |       | Dec 28, 1999                           |       | 81.9                                                                    | %          | 80.6 | % | 78.9 | % |
| Tomusinsk Group  Processing Plant (TGPP)**                                          |       | Russia                 |       | Coal processing        |       | Dec 31, 2000                           |       | —                                                                  |       | — |   | 84.4 | % |
| Kuzbass Central  Processing Plant (KCPP)***                                         |       | Russia                 |       | Coal processing        |       | Dec 31, 2000                           |       | —                                                                  |       | 95.0 | % | 88.4 | % |
| Lenin Mine (LM)                                                                     |       | Russia                 |       | Coal mining            |       | Dec 29, 2001                           |       | 79.0                                                                    | %          | 78.5 | % | 53.5 | % |
| Usinsk Mine  (UM)                                                                   |       | Russia                 |       | Coal mining            |       | Dec 29, 2001                           |       | 80.2                                                                    | %          | 78.6 | % | 53.6 | % |
| Siberian Central Processing Plant (SCPP)***                                         |       | Russia                 |       | Coal processing        |       | Dec 22, 2000                           |       | —                                                                  |       | 90.8 | % | 89.6 | % |
| Chelyabinsk Metallurgical Plant (CMP)                                               |       | Russia                 |       | Steel products         |       | Dec 27, 2001                           |       | 93.7                                                                    | %          | 86.9 | % | 82.6 | % |
| Southern Urals Nickel Plant (SUNP)                                                  |       | Russia                 |       | Nickel                 |       | Dec 27, 2001                           |       | 79.9                                                                    | %          | 79.3 | % | 79.3 | % |
| Vyartsilya Metal Products Plant (VMPP)                                              |       | Russia                 |       | Steel products         |       | May 24, 2002                           |       | 93.4                                                                    | %          | 93.4 | % | 93.4 | % |
| Beloretsk Metallurgical Plant (BMP)                                                 |       | Russia                 |       | Steel products         |       | June 14, 2002                          |       | 90.3                                                                    | %          | 90.2 | % | 80.5 | % |
| Mechel Targoviste SA(2)                                                             |       | Romania                |       | Steel products         |       | Aug 28, 2002                           |       | 83.7                                                                    | %          | 81.0 | % | 81.0 | % |
| Mechel Zeljezara (MZ)                                                               |       | Croatia                |       | Steel products         |       | March 17, 2003                         |       | 100.0                                                                   | %          | 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                           |       | 85.5                                                                    | %          | 75.0 | % | 70.3 | % |
| Mechel Campia Turzii SA(3)                                                          |       | Romania                |       | Steel products         |       | June 20, 2003                          |       | 84.9                                                                    | %          | 81.0 | % | 79.8 | % |
| Mechel Nemunas (MN)                                                                 |       | Lithuania              |       | Steel products         |       | Oct 15, 2003                           |       | 100.0                                                                   | %          | 100.0 | % | 100.0 | % |
| Mechel Coal Resources (MCR)                                                         |       | Kazakhstan             |       | Coal processing        |       | Dec 31, 2003                           |       | —                                                                  |       | 100.0 | % | 100.0 | % |
| Mechelenergo                                                                        |       | Russia                 |       | Energy trading         |       | Feb 3, 2004                            |       | 100.0                                                                   | %          | 100.0 | % | — |   |
| Port Posiet                                                                         |       | Russia                 |       | Transportation         |       | Feb 11, 2004                           |       | 80.0                                                                    | %          | 80.0 | % | — |   |
| Izhstal                                                                             |       | Russia                 |       | Steel products         |       | May 14, 2004                           |       | 87.6                                                                    | %          | 62.3 | % | — |   |
| Port Kambarka                                                                       |       | Russia                 |       | Transportation         |       | April 27, 2005                         |       | 90.4                                                                    | %          | — |   | — |   |
| Kaslinsky Architectural Art Casting Plant                                           |       | Russia                 |       | Steel products         |       | April 14, 2004                         |       | 100.0                                                                   | %          | 100.0 | % | — |   |

 

* Date whena control interest was acquired by either the Group or ControllingShareholders.

** Mergedwith SKCC on October 15, 2004

*** Merged with SKCC in October - December,2005

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

(2) Formerly -Combinatul de Oteluri Speciale Targoviste S.A. (COST)

(3) Formerly -Industria Sarmei (IS)

 

 

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