Metalloinvest says to invest 12 bln rbl in Mikhailovsky plant

ZHELEZNOGORSK, Kursk Region, Sep 3 (PRIME) -- Russian metals holding Metalloinvest plans to invest more than 12 billion rubles in a second stage of ore concentrate quality improvement at Mikhailovsky GOK mining and processing plant, the company said in a statement on Tuesday.

The company invested 1.2 billion rubles in the first stage of improvement, under which Metalloinvest launched fine screening equipment from Derrick Corporation at the Mikhailovsky GOK plant. The equipment allows the plant to raise the content of iron in concentrate to 67% from 65.1%.

Derrick will also sell equipment for the second stage, under which Metalloinvest will build a facility for additional beneficiation of the concentrate. The new facility and the upgrade of production capacities should allow the plant to start processing complex ores with a higher content of iron, and will also reduce overburden and production costs, the company said.

“The second stage of the project, launched in August 2019, will see construction of a new building for beneficiation of concentrate using high-quality Derrick equipment. As a result of the second stage, production of high-quality concentrate with an iron content of 68.7% will amount to 16.9 million tonnes in 2022,” the company said.

“Improvements in the quality of concentrate will enable the enterprise to produce premium quality pellets in line with international standards. Mikhailovsky GOK products will enter the top league, allowing access to new sales markets. The enterprise will also reduce its impact on the environment and will increase production efficiency,” the company said quoting First Deputy CEO Nazim Efendiyev.

(66.6235 rubles – U.S. $1)

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