Metalloinvest and Industrial-metallurgical complex signed a long-term contract for iron ore concentrate supply

​From 2016 Metalloinvest and the Industrial-metallurgical complex have signed a contract for the supply of iron ore concentrate of the highest sort with the iron content of up to 69.5% for the amount of $6.8 bln. The value of the shipped goods will be determined by the formula of the price taking into account the market indices.

From 2016 Metalloinvest offered iron ore products of the highest quality to the market a peculiar feature of which is a low content of silicon and the increased content of iron. These characteristics will allow metallurgical companies to increase the productivity of steel making furnaces, cut the expenditure on electric energy and electrodes at the electric-arc smelting, increase work efficiency of blast furnaces by means of increasing iron content in the blast furnace burden and reduction of slag production.

In conformity with the agreement, the shipment of concentrate of high quality to Tulachermet (in the structure of the Industrial-metallurgical complex) will be held from Lebedinsky GOK (in the structure of Metalloinvest) from May 1st 2016 until March 31st 2018. This contract has enlarged the list of the already existing long-term contracts of Metalloinvest on the supply of iron ore products to the domestic metallurgical plants.