2 June 2010 // Press centre Metinvest Group
Metinvest plans to increase production of high quality merchant iron ore concentrate with ‘Fe content’ over 67% up to 6.8 mln. t through construction of the second magnetic and flotation metal content upgrading facility at Ingulets Iron Ore Enrichment Works (InGOK).
Total value of the project will comprise around UAH 340 mln. Metinvest plans to commission the facility in October 2011.
Capacity of the second magnetic and flotation metal content upgrading facility will be around 3.6 mln. t of merchant concentrate per year. During 2010 over UAH 130 mln will be invested in construction of the plant.
Ingulets Iron Ore Enrichment Works is the only enterprise in Ukraine successfully employing this technology. Currently the enterprise operates the facility with the annual production capacity over 3.2 mln. t.
«The main objective of construction of the second magnetic and flotation metal content upgrading facility is to expand production of premium-class iron ore products with Fe content up to 68.0-69.5%», — noted Nikolay Ischenko, the Acting Director of Metinvest’s Iron Ore Division.
In 2009 InGOK produced 11.881 mln. t of concentrate.
Ingulets Iron Ore Enrichment Works (InGOK) focuses on mining and processing of ferruginous quartzites of Ingulets deposit located in the Southern Part of Kryvyi Rih iron ore basin. The enterprise produces two types of iron ore concentrate with Fe 63.7% and 67.5%. InGOK’s production capacity is 14 mln. tpa of iron ore concentrate. The enterprise employs advanced flotation concentration technologies, which currently are unique for Ukraine. InGOK is part of Metinvest’s Iron Ore Division.
Metinvest is an international vertically integrated mining and steel group of companies. Production facilities of Metinvest produce enough steelmaking raw materials to meet its own demand and to be the key supplier to major steelmaking companies in Ukraine, Europe and Asia. The major shareholders of Metinvest are SCM Group (75% ownership) and Smart-Holding (25% ownership) partnering in Company’s management.
METINVEST HOLDING, LLC is the managing company of Metinvest Group.