MMK concludes iron ore supply contract with ENRC

Russian sources report that the domestic steel producer Magnitogorsk Iron and Steel Works (MMK) has concluded a ten-year contract with Kazakhstan-based ENRC for the supply of iron ore. In response to questions from SteelOrbis on the issue, an ENRC spokesperson said that the company prefers not to comment on the matter till it has concluded all necessary legal procedures. ENRC is a Kazakhstan-based natural resource group, with fully integrated mining, processing, energy and transport operations, which controls Sokolov-Sarbai Mining Production Association (SSPGO). SSPGO holds about 1.5 billion metric tons in iron ore reserves with unusually high iron content (up to 55%).