Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest has announced that during 2012 its capital expenditure amounted to $463 million, representing a decrease of 9.6 percent compared to $512 million in 2011.
During the course of 2012, Metalloinvest continued the implementation of one of its major investment projects - the construction of Pellet Plant No. 3 at MGOK, which will increase current pellet production capacity by 5 million mt per annum when completed.
In August 2012, Metalloinvest signed a contract with a Siemens and MIDREX consortium for construction of the hot briquetted iron (HBI) plant No. 3 at LGOK with a capacity of 1.8 million mt per annum.
During the course of 2012, the company continued construction of its new coke-oven battery No. 6 at Ural Steel with a capacity of 700,000 mt per annum.
In November 2012, another stage of modernization at MGOK’s crushing and processing plant was completed. The renovation works resulted in a 10 percent increase in the conveyor belt’s transportation capacity.
In November 2012, a new vacuum degasser was launched at Ural Steel. The vacuum degasser will process up to 1.2 million mt of steel per year, as well as enable production of high grade steel products.