15 May 2014
Metinvest Group, an international vertically integrated group of steel and mining companies, will invest over UAH 3 billion in its mining division's assets in 2014 as part of its long-term investment program.
The company plans to invest more than UAH 2.2 billion in capacity maintenance projects and major overhauls of equipment at the plants in its mining division. Around UAH 140 million will be used to purchase new mining machinery.
The following key projects will be undertaken at the plants in 2014:
- ongoing construction of the conveyor and crusher system at the Pervomayskyi pit of Northern GOK;
- ongoing refurbishment of the Lurgi 278-B roasting machine at Northern GOK;
- replacement of the gas cleaning systems at the Lurgi 552-В roasting machine at Northern GOK;
- relocation of the conveyor and crusher system at a pit at Ingulets GOK;
- design work on thickening the tailings at Ingulets GOK;
- ongoing ferrous sand field development project at Central GOK;
- commissioning of a new longwall at the N. Barakova mine of Kransodon Coal;
- development of the Rodnikovskiy deposit at the Komsomolske Flux Plant.
Nikolay Ischenko, director of Metinvest Group's Mining Division:
"This year, we will continue to implement a number of long-term investment projects that commenced last year. Some of them are groundbreaking for Kriviy Rih and Ukraine's metals and mining sector in general. While these projects are quite resource hungry, they can improve production efficiency and give us impetus to develop the division's assets for decades to come. This are committed to doing this so active efforts are being taken at the GOKs to expand spoil banks at the pits, develop new ore deposits, renovate equipment at pits, and overhaul railway tracks and machinery."