NLMK Group has signed a memorandum of intent (MoI) with the Belgorod Region administration and the Russian Ministry of Industry and Trade for a new metals and mining project in the country with an investment of approximately $3.4bn (RUR250bn).

The project, which is based on the latest and environmentally friendly technologies, will involve the construction of a new metals and mining facility at the Stoilensky mining and beneficiation plant.

It includes the development of several production stages and mastering a new product, hot briquetted iron, for NLMK Group.

NLMK Group CEO Grigory Fedorishin said: “Hot briquetted iron is currently in demand both in Russia and on the global market. Using this product in making steel cuts CO₂ emissions in half versus traditional technologies.

“The project marks the beginning of NLMK Group’s planning process for its new strategic development stage, Strategy 2030.

“High-tech integrated digital production with a low carbon and climate footprint is set to reinforce the company’s competitive advantages.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Mining Technology.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

As part of the project, the existing open-pit mine will also be expanded to increase iron ore output from the existing 43 million tonnes (Mt) to 67Mtpa.

New beneficiation capacities are also planned for a total of 10Mt of concentrate.

The project will also cover the construction of a pelletising plant with a 9Mt capacity and a 2.5Mt HBI shop.

The latest technologies to be employed during construction will ensure a reduction in the environmental impact of production.

They include gas purification systems, a closed-loop water system, reuse of waste, conveyor transport in the open-pit mine, among others.

The project is set to create up to 1,300 new jobs and its implementation is planned for 2024-2027, with commissioning scheduled for 2027-2028.