Metalloinvest Strategy for Qualitative Changes till 2023

Metalloinvest Strategy for Qualitative Changes till 2023

Russian mining and metallurgy company Metalloinvest has presented a Strategy for Quality Changes till 2032. The basic principles laid down in the

Russian mining and metallurgy company Metalloinvest has presented a Strategy for Quality Changes till 2032. The basic principles laid down in the Strategy are Quality, Environment, Partnership and Development. Strategic priorities of the Company: increasing sales margins, increasing operational and managerial efficiency, sustainable development. Safe and comfortable working conditions remain Metalloinvest's key production priorities. 2021 has been declared the year of Industrial Safety. Measures will be implemented to improve the culture of safe production, transport and gas safety programs.

The implementation of the Strategy for Qualitative Changes is planned in two stages:

Until 2026 - Optimization of the commodity balance. The goal is to increase margins and ensure sustainable sales in highly profitable markets by achieving compliance of production capabilities with the maximum market requirements. It is planned to bring the quality of iron ore raw materials to the level of the best world standards, increase the production of pellets, hot briquetted and direct reduced iron and expand our presence in niche markets for steel products.

Until 2032 - The goal is to strengthen the leading position in the production of high quality iron ore, metallized and steel products using green technologies. Large-scale research work is to be carried out to find optimal solutions for the use of hydrogen in mining and metallurgical production; production of HBI / DRI from concentrate, bypassing the stage of pellet production; realizing the possibility of strategic alliances with producers of green high-quality HBI / DRI steel.

The strategy assumes an increase in investments in the development of the production of high-quality products. In 2021-2023 Metalloinvest plans to significantly increase CAPEX compared to the 2019-2020 level, which amounted to about USD 450 million. In 2021, CAPEX is projected at over USD 560 million, with development projects accounting for 70% of CAPEX.

Improving the quality of iron ore

Completion of the construction of a concentrate re-enrichment building at Mikhailovsky GOK named after AV Varicheva

Introduction of concentrate flotation technology at Mikhailovsky and Lebedinsky GOKs

Increased production and improved quality of pellets

Reconstruction of roasting machines at MGOK, LGOK and OEMK named after AA Ugarova.

Production growth and quality improvement of HBI & DRI

Construction of a new HBI plant on the territory of MGOK

Reconstruction of HBI workshops 1 and 3 at LGOK

Reconstruction of metallization unit 3 at OEMK

Reducing production costs and increasing the stability of mining production

Completion of the second stage of construction of a crushing and conveyor complex at MGOK

Construction of cyclical flow technology at LGOK

Development of niche steel sales and flexibility of metallurgical production

Modernization of blast furnaces on US

Construction of an arc steelmaking furnace No. 5 and a complex steel processing unit, modernization of equipment for section rolling shops at OEMK

Metalloinvest also continues to implement the Environmental Program with an investment of RUB 22.3 billion and an energy efficiency program with an investment of RUB 23.5 billion.

No stories found.
SteelGuru Business News