OREANDA-NEWS. February 06, 2007. Severny Ore Mining and Processing Works (SevGOK) is planning to invest UAH 1,308.6m into modernization of its production facilities in 2008, reported the press-centre of SCM.

Key projects of the modernization program 2008 include: 

- mining facilities: acquisition of seven ЭКГ-10 10 cubic meter excavators, two Hitachi EX-3600 hydraulic excavators, seven СБШ-250 drilling rigs, five Comatsu bulldozers, 13 130-tonne BelAZ dump trucks, six ОПЭ-1АМ electric locomotives, 92 dump cars and other machines.

- processing facilities: capital overhaul of КРД-700/100 crushing machine, acquisition and mantling of КРД-700/100, КМДТ-2200 and КСД-2200 crushing cones.

Moreover, the company earmarked considerable funds for construction of beneficiating sections No. 13-14, 15-16, a homogenizing unit, pump station, and expansion of tailing facilities.

Pelletizing factory will see modernization of ОК-306 calcining machine. Considerable funds are earmarked for reconstruction of Lurgi-278B calcining machine.

In addition, the company will invest a lot into installation of new electric filters at pelletizing machines in a move to cut air emissions.

Information:
Metinvest Group is the regional leader in mining and metals sector and one of the key players at world’s iron and steel market. The companies of the Group produce 10,5 million tons of steel, more than 38 million tons of iron ore raw materials both satisfying own needs and being the key supplier to other Ukrainian steelmaking companies.

LLC Metinvest Holding is the managing company of Metinvest Group. The owners of the managing company are Metinvest B.V. (Netherlands) with 51,15% of charter capital and ZAO SCM with 48,85%. Metinvest B.V. is 75% owned by SCM (System Capital Management) Limited (Cyprus), a subsidiary of ZAO SCM, and 25% owned by Smart N.V. 90% of ZAO SCM is owned by Rinat Akhmetov. Smart N.V. is the holding company of Vadim Novinskiy's business group.

Severny Ore Mining works is a complex industrial facility specializing in mining, processing and production of iron ore materials for steel industry – pellets and iron ore concentrate.

In 2007, SevGOK increased production of concentrate by 12% compared with the same period last year up to 13,396.3 thousand tones and production of pellets – by 9,4% to 11,066.2 thousand tones.

Severny GOK operates under Metinvest Group umbrella.