The BoD of the Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has decided to create a new iron ore enrichment subsidiary named Prioskolsk GOK in Starii Oskol in the Belgorod region. The new facility will be in charge of developing the Prioskolskoye iron ore deposit, the rights for which MMK won last November.
Prioskolsk GOK will have an annual capacity of up to 35 million metric tons of iron ore and 15 million metric tons of pellets, sintering ore and iron ore concentrate.
MMK plans to start construction works at Prioskolsk GOK as early as 2009 and expects to bring the plant up to its designed capacity by 2016.