Metalloinvest to Expand Iron Ore Supplies to MMK

24 December 2012 (09:32)

December 24, 2012. Magnitogorsk Iron & Steel Works (MMK) and Metalloinvest announced they had signed a long-term contract on expanding the volume of iron ore raw materials supplied by the latter to the former.

This agreement determines the price formula for the goods delivered on the basis of current market indicators and the global iron ore market price dynamics. The new contract ensures an increase in the amount of iron ore raw materials delivered to MMK. The ore concentrate and pellets will be shipped onto MMK production sites from Lebedinsky and Mikhailovsky Ore Mining & Processing Enterprises.

‘Metalloinvest’s production facilities allow us to meet the home market’s growing demand for high quality iron ore raw stuffs, and the Russian market has always been one of our top priorities. In accordance with the arrangements we have made, we will expand our shipments to MMK, who is our dependable partner,’ says Metalloinvest’s Director-General Eduard Popov.

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