Metalloinves Announces Operational Results for 9M of 2019

Release time：Nov 08, 2019 From：admin

Metalloinvest announced its operational results for the first nine months of 2019. Mr Andrey Varichev, CEO of Management Company Metalloinvest, said "The Company recorded a year-on-year increase in production volumes of all iron ore products during the first nine months of 2019. Shipments of iron ore products (including concentrate, pellets and HBI/DRI) increased by 1.5%. Meanwhile, the share of high value-added products (pellets and HBI/DRI) comprised 73% of the total amount of iron ore product shipments. In the third quarter of 2019, the Company launched fine screening technology at Mikhailovsky GOK as part of the implementation of the comprehensive program of strategic development aimed to improve product quality. This technology has previously been successfully implemented at Lebedinsky GOK. The use of fine screening technology will enable the Company to increase premium-quality pellet production as soon as the fourth quarter of 2019. Steel product shipments in the first nine months of 2019 decreased by 1.1% compared to the same period last year, primarily due to the development of Flexible Modular Furnace steel production technology at Ural Steel."