Metalloinvest launches Derrick Fine Screening Technology at Mikhailovsky GOK
Zheleznogorsk, Russia - 03 September 2019 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, has launched Derrick Fine Screening Technology at Mikhailovsky GOK, designed to improve the quality of iron ore concentrate.
The first technological phase was launched at Mikhailovsky GOK benefication plant during an official ceremony attended by Nazim Efendiev, First Deputy CEO, Sales Director, Management Company Metalloinvest, Mitchell Derrick, CEO of Derrick Corporation, a leading global producer of fine screening technology, Miron Boris, General Manager of Thrane Teknikk (exclusive representative of Derrick in Russia and CIS), Sergey Kretov, Managing Director of Mikhailovsky GOK and Mikhail Aksenov, chairman of the Committee for Industry, Trade and Small Business Development of Kursk region.
On the same day, an agreement was signed with Thrane Teknikk to supply Derrick equipment for the second stage of the project: construction of a new building for benefication of concentrate at the benefication plant. Nazim Efendiev and Miron Boris signed the documents.
Nazim Efendiev said: "The introduction of fine screening technology is an important part of the comprehensive programme to improve iron ore products at Mikhailovsky GOK. Improvements in the quality of concentrate will enable the enterprise to produce premium quality pellets in line with international standards. Mikhailovsky GOK products will enter the top league, allowing access to new sales markets. The enterprise will also reduce its impact on the environment and will increase production efficiency."
Mitch Derrick stated that, "Our partnership began with Metalloinvest in 2005 and, since that time, we have worked together at Mikhailovsky and Lebedinsky to ensure significant efficiency gains in the production of high-grade iron ore concentrate with Derrick's 5-Deck StackSizer(R) Screens. I am extremely happy that we are furthering this important alliance with Metalloinvest's decision to utilize Derrick's newly offered 8-Deck SuperStack(TM) High-Frequency Screens at Mikhailovsky. This innovative solution offers over twice the capacity of traditional units in a similar footprint; significantly reducing both the upfront installation costs and ongoing operating and maintenance costs."
"We at Thrane Teknikk are very proud to have been instrumental in facilitating the successful cooperation between Metalloinvest and Derrick by developing the process solution for Lebedinsky and Mikhailovsky GOKs and making sure it works as designed and as world leading Derrick equipments should at the world leading iron ore processing Metallinvest plants", - said Miron Boris.
During the first stage of the project, Derrick Fine Screening Technology was introduced at four technological sections of the benefication plant. The design, supply and installation of the equipment, adjustment works and commissioning took place within a short period of just one year. The capital expenditures for the first stage exceeded RUB 1.2 bn.
As a result of the first stage of implementation, over 3.7 mn tonnes of iron concentrate with an increased iron level of 67% from 65.1% will be produced in 2020 at the fine screening technology section.
The second stage of the project, launched in August 2019, will see constuction of a new building for beneficiation of concentrate using high-quality Derrick equipment. As a result of the second stage, production of high-quality concentrate with an iron content of 68.7% will amount to 16.9 mn tonnes in 2022. The construction of the new beneficiation building and modernisation of production will enable the processing of complex ores with a higher iron content and will reduce overburden and production costs.
Investments in the second stage are projected at more than RUB 12 bn.
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For more information, please contact:
Artem Lavrischev
Director of Investor Relations and Corporate Ratings
E: ir@metalloinvest.com
T: +7 (495) 981-55-55, ext. 7243
Metalloinvest is a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel. The Company has the world's second-largest measured iron ore reserve base and is one of the lowest-cost iron ore producers.
Metalloinvest is wholly owned by USM Holdings. The main beneficiaries of USM Holdings are Alisher Usmanov (49%) and Vladimir Skoch (30%).
