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Magnitogorsk Iron and Steel Works Boosts Iron Ore Production
12/29/2010 - Magnitogorsk Iron and Steel Works, OJSC (MMK) will have produced over 2.2 million tons of finished ore by end 2010, according to company estimates, exceeding last year’s results by 35%.
Magnitogorsk Iron and Steel Works, OJSC (MMK) will have produced over 2.2 million tons of finished ore by end 2010, according to company estimates. The company’s output levels for 2010 will exceed last year’s results by 35%.
MMK’s ore dressing plant has been producing an annual average of 1.5 million tonnes of finished ore in recent years. In the first eleven months of 2010, the plant’s output totaled 2.031 tonnes (37.7% on the same period of 2009).
MMK management is planning to technically retool the MMK ore dressing facility. The company said the upgrade will allow it to boost production to as high as 3 million tonnes by 2012.
Growing output of finished ore is strengthening MMK’s raw material base and positively reflects on the company’s financials. Given the steep rise in prices for raw materials, MMK is anticipating that it will achieve a significant economic effect by replacing purchased ore with its own products.
