Metinvest, a Ukrainian-based international vertically-integrated group of mining and steel companies, is investing almost UAH 5 billion ($0.6 billion) this year in the modernization of its iron ore processing facilities (GOKs) within the scope of its program for the improvement, reconstruction and modernization of its production facilities.
The investments for are distributed as follows: Northern GOK - UAH 2.58 billion ($0.3 billion), Inguletsk GOK - UAH 1.35 billion ($0.2 billion), and Central GOK - UAH 0.90 billion ($0.1 billion).
The investment program for Northern GOK includes a reconstruction of indurating machines, modernization and an integrated automation of the beneficiation plant, construction of conveyor ore transportation at Pervomaisky open pit, and purchase of major mining equipment.
The main focus of the Inguletsk GOK investment program is the launch of the second line of the complex of magnetic flotation concentration enabling an increase of flotation concentrate volumes up to 7 million mt (Q4 2011 - planned project completion). Modernization plans also include an integrated automation of the enrichment processing as well as environmental project implementation.
Central GOK plans to invest in ecological activities in and the construction of a new crushing and handling complex.