OREANDA-NEWS. March 07, 2012. A band has slid out of the drum and then stuck between the internal drum structures due to a failure of the belt speed sensor on the continuous vertical conveyor used for cargo handling with a permanent high speed and high capacity, reported the press-centre of Eurasia of Kazakhstan.

Thus, the disabled conveyor of Lebedinsky Mining and Processing Complex JSC has led to a disruption of production and additional expenses for reduction of production losses.

The property interest of the Lebedinsky Mining and Processing Complex JSC has been reinsured with Eurasia Insurance Company JSC, which has made a reinsurance payment within its liability share in the amount of USD480,000.

Besides, Eurasia has compensated for expenses related to loss settlement, for which a specialized surveying company has been involved.

Lebedinsky Mining and Processing Complex JSC is a part of METALLOINVEST holding and is the largest iron ore raw material producer in Europe and CIS, the only producer of hot pressing iron in Russia and largest producer of merchantable hot pressing iron in the world.