Metalloinvest to increase iron ore output by 50% by 2015

May 30, 2008

May 30 (Steel Guru) – Interfax cited Mr Ilya Belyakov head of marketing at the Metalloinvest Ore sales company as saying that Mr Alisher Usmanov’s Metalloinvest plans to boost commercial iron ore production almost 50% to 60 million tonnes by 2015.

He said that crude steel production will rise from an anticipated 7 million tonnes in 2008 to 10 million to 12 million tonnes in 2015 but he did not say how much would be invested in the drive to boost output.

Metalloinvest has said it is planning USD 6 billion in capital expenditure by 2013. The investment should rise to USD 1.15 billion in 2008, from USD 715 million in 2007.

Metalloinvest plans this year to raise crude iron ore production from 100.162 million tonnes to 102 million tonnes, iron ore concentrate from 41.3 million tonnes to 42.8 million tonnes. Pig iron production should rise from 2.796 million tonnes to 2.854 million tonnes, crude steel from 6.435 million tonnes to 6.911 million tonnes and roll from 4.854 million tonnes to 5.183 million tonnes.

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