Metalloinvest and United Metallurgical Company (OMK) signed an agreement according to which Metalloinvest will supply OMK with all of its iron ore pellet requirements for 15 years.
The agreement provides that Metalloinvest will supply OMK with high quality DR grade pellets with high iron and reduced silicon content. The total supply volume will be approximately 53 million tonnes of pellets for 15 years.
Nazim Efendiev, Chairman of the Board of Directors of Metalloinvest, said: "This is a record-breaking contract for the Russian mining and metallurgical industry in terms of timing and volume of deliveries. This will be an important step in the ecological transformation of local metallurgy. Metalloinvest will bring its unique long-term experience in the use of direct reduced iron production technology with a low carbon footprint to the partnership with OMK."
Anatoly Sedykh, Chairman of the Board of OMK, said: ''This partnership will allow to increase the production of high-quality steel products in Russia using green technologies, significantly increase the consumption of natural gas and iron ore, and make a significant contribution to the economic and social development of various regions of the country and the entire domestic industry.''
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