OREANDA-NEWS. February 1, 2013. Metinvest Group, an international vertically integrated group of steel and mining companies, invested more than UAH 2.6 billion in new equipment and on construction projects for enterprises in its Mining Division in 2012 as part of its long-term investment program.

Metinvest invested over UAH 2 billion in capital construction projects and capital repairs of the equipment of its Mining Division’s enterprises in 2012. Major projects in 2012 included:

Northern GOK: construction of a crushing and transfer complex and capital repairs to a pellet-roasting machine

Ingulets GOK: optimization of beneficiation waste pumping

Central GOK: development of ferrous sand fields at the tailing dump

Komsomolsk Mine: construction of a crushing and transfer complex

Krasnodon Coal: implementation of an integrated production safety system and modernization of the aero gas control system at the Sukhodolskaya-Vostochnaya mine

Investments in mining equipment amounted to more than UAH 600 million in 2012. Metinvest purchased 17 dump trucks, two boring rigs, four excavators, four bulldozers, an electric locomotive and 12 railway dump cars for its enterprises in Kriviy Rih: Northern, Ingulets, and Central GOKs. Metinvest also purchased 10 combines, 18 conveyers, and several self-propelled railcars and rock-loading vehicles for Krasnodon Coal.

Nikolai Ishchenko, Director of Metinvest’s Mining Division: "The systematic implementation of Metinvest’s long-term investment program allows us to improve the competitiveness of our mining enterprises. In this way, we cut production costs, while at the same time reducing environmental impact, and improving the safety of our employees."

METINVEST is a vertically integrated group of metals and mining companies that manages every link in its value chain from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. The Group has production facilities in Ukraine, Europe and the USA and an extensive global sales network. Metinvest group is structured into two operating arms: Metallurgical and Mining Divisions. Metinvest Group’s strategic vision is to become Europe’s leading vertically integrated steel producer, and to deliver sustainable growth and profitability resilient to business cycles, providing investors with higher returns than industry benchmarks. In 2011, Metinvest produced 14.4 million tons of crude steel and 35.7 million tons of iron ore concentrate, and mined 11.3 million tons of coking coal.

The major shareholders of Metinvest Group’s holding company, METINVEST B. V., are SCM Group (71.25%) and Smart-Holding (23.75%), partnering in the company’s management. METINVEST HOLDING, LLC is the managing company of Metinvest Group.