OREANDA-NEWS. Metalloinvest secured a one-year contract to supply iron ore concentrate to KOKS Group. Under the agreement, the total amount of iron ore concentrate to be supplied should reach more than 1 million tons.

The contract pricing is based on the market indicatives, the price formula is linked to the dynamics of the global iron ore indices.

The concentrate will be shipped from Lebedinsky GOK, a part of Metalloinvest, to Tulachermet, a part of KOKS Group.

“The signing of the contract is a continuation of long-term mutually beneficial cooperation between the companies”, said Nazim Effendiev, the First Deputy CEO and Commercial Director of MC Metalloinvest. “Reliable iron ore supply to Russian companies is a top priority for Metalloinvest.”