Mechel, one of the leading Russian mining and steel producing groups, has announced the consolidation of all its ferroalloy assets under its Oriel Resources subsidiary.
Accordingly, the Mechel enterprises operating in the ferroalloy business, i.e. Southern Urals Nickel Plant (Orenburg region) and Bratsk Ferroalloy Plant (Irkutsk region), are to be included within the structure of Oriel Resources company, which is comprised of Tikhvin Smelting Plant (St. Petersburg region), Voskhod Chrome Deposit and Shevchenko Nickel Deposit (Kazakhstan).
"The consolidation of all ferroalloy assets currently owned by Mechel is in line with the development strategy of our ferroalloy division. The activities at our new division will increase the efficiency within our metallurgical segment, driven by the use of its own raw materials (ferroalloys) for specialty and stainless steel production. The consolidation will also help improve Mechel's competitive position given the expansion of its existing business to new markets while enhancing the integration of its businesses," Mechel COO and Mechel Ferroalloys Management Company CEO Alexey Ivanushkin commented.