Metalloinvest Signs Iron Ore Products Contracts with Steel Makers
MetalloinvestAK&M

Metalloinvest Signs Iron Ore Products Contracts with Steel Makers

Leading Russian mining and metallurgy company Metalloinvest has signed new long-term contracts for the supply of iron ore products with leading Russian

Leading Russian mining and metallurgy company Metalloinvest has signed new long-term contracts for the supply of iron ore products with leading Russian and foreign companies. Under these agreements, Metalloinvest will supply 3.6 million tonnes of concentrate and 12 million tonnes of pellets per year from Lebedinsky GOK and Mikhailovsky GOK. The contracts are designed for terms ranging from one to three years. Iron ore products in the volume of 2 million tonnes, 4.65 million tonnes and 2.8 million tonnes per year will be shipped to the Industrial and Metallurgical Holding PMH, Magnitogorsk Iron and Steel Works MMK and EVRAZ, respectively. In addition, over 6 million tonnes of iron ore products per year will be supplied to the Company's foreign partners. Agreements were signed with ThyssenKrupp, Rogesa, ArcelorMittal, US Steel Kosice, Trinecke Zelezarny, Nippon Steel Sumitomo Metal, ERDEMIR, British Steel & HBIS Serbia.

For the needs of the coke-chemical production of Metalloinvest’s Ural Steel, a long-term contract on formula pricing was also signed with EVRAZ for the purchase of highly volatile coals for coking.

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