Kazakhstan-based mining group Eurasian Natural Resources Corporation Plc. (ENRC) has announced that following its BoD review of the group's capital expenditure plans, it has approved a number of additional significant projects to be implemented over the next few years.
In its ferroalloy division, ENRC plans to construct six new furnaces, which will be mixture of new and replaced production and will bring an additional annual production capacity of approximately 600,000 mt. The DC furnaces will not only increase the company's production but will also enable ENRC to minimize its exposure to metallurgical coke prices by using cheaper reductants and greater amounts of fines.
In its iron ore division, ENRC has revised its annual iron ore concentrate output increase forecast to nine million mt from the four million mt previously announced. In addition, the company is planning to construct two direct reduced iron (DRI) plants, with a combined annual capacity of 2.8 million mt, and an iron ore pelletizing unit with an annual production capacity of five million mt.