METALLOINVEST is a leading global iron ore and HBI producer based in Russia

  • The world’s largest iron ore deposits under operation
  • The biggest regional iron ore production ranking in the top5 globally
  • The biggest HBI supplier globally
  • Strategic location of the main producing assets in Russia’s European part
  • Global leadership in iron ore production cost efficiency
  • One of the major steel producers in Russia

30 January, 2008
Publisher: Bloomberg

Metalloinvest Wins Iron-Ore Contracts With U.S. Steel, Corus

By Yuriy Humber

Jan. 29 (Bloomberg) -- Metalloinvest, Russia's biggest iron-ore supplier, won sales contracts with U.S. Steel Corp. and OAO Severstal, and extended an agreement with Corus Group Plc, the U.K. unit of Tata Steel Ltd.

The Moscow-based company, owned by billionaire Alisher Usmanov, has agreements to supply 80 percent of the 2.4 million tons of hot-briquetted iron it plans to produce this year, it said today in an e-mailed statement. Metalloinvest, which produced 1 million tons last year, is expanding exports to South Korea and Ukraine.

The contracts this year include an extension of a 300,000- ton order with Corus's Dutch unit Strip Products Ijmuiden, sales to Lucchini SpA, a Severstal unit, and orders from U.S. Steel's Slovak operations.

Usmanov, whose is worth $5.5 billion according to Forbes magazine, and his two partners control Russia's second- and third-biggest producers of iron ore, Lebedyansky GOK and Mikhailovsky GOK, as well as steel plants. The assets are held by Gazmetal and managed by Metalloinvest.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aFqADS4SDqhg


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