Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest has announced that it has carried out modernization of its pellet plant No. 3 (PP-3) at Mikhailovsky GOK.
Metalloinvest increased annual iron ore pellet production at PP-3 by 250,000 mt or five percent after it completed the first stage of the modernization project which aims to enhance the efficiency of pellet output from mixes of iron ore concentrates from Mikhailovsky GOK and Lebedinsky GOK.
The company plans to start the second stage of the modernization of PP-3 in 2019 and reconstruct PP-3’s heating design at this stage. The company expects to see an additional five percent increase in productivity after the second stage of modernization is completed. The total investment value of the modernization project is estimated at RUB 1 billion (150 million $).
“The modernization of PP-3 is taking place as part of Mikhailovsky GOK’s complex development program which aims to increase output volume and quality of high value-added products. Today, the demand for quality pellets is very high, as using this raw material allows steel workers to reduce emissions into the atmosphere. Increasing the productivity of PP-3 gives us the opportunity to access new sales markets,” said Andrey Varichev, CEO of Management Company Metalloinvest.