Magnitogorsk Iron & Steel Works to invest $1.8 bln in Prioskol iron ore mine

June 30, 2008

June 30th (Hemscott) – Magnitogorsk Iron & Steel Works (MMK) said it plans to invest $1.8 billion in the Prioskol iron ore mine in order to achieve initial production of 25 million tonnes of ore in 2016, Interfax reported.

Ultimately, MMK wants to produce 35 million tonnes of ore annually at the mine, enough to meet internal demand for the next 60 years.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: