2012.07.09 | Russia’s Metalloinvest to increase iron ore output by 7% in 2016Russian metals holding Metalloinvest plans to produce 42.9 million tonnes of iron ore in 2016, a 7% increase compared to 2011, the company said in materials seen Tuesday.
The company also plans in 2016 to increase pellet and hot-briquetted iron production by 23% to 27.6 million tonnes and by 40% to 7.2 million tonnes, respectively.
Metalloinvest’s iron ore output increased by 9% in 2011 to 40.1 million tonnes.
Metalloinvest owns the Lebedinsky and Mikhailovsky ore processing plants, Oskol Electric Steel Works, or OEMK, and Ural Steel. Metalloinvest’s shareholders include VTB Bank with a 20% stake, Alisher Usmanov’s Gallagher Holdings with a 50% stake, while Vladimir Skoch owns 30% in the company though Seropaem Holdings.
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