Severstal will build a complex for the production of iron ore pellets
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Severstal (MOEX: CHMF) confirmed the construction of a complex for the production of iron ore pellets on the territory of the Cherepovets Metallurgical Plant (CherMK). The company’s press service reported this in its Telegram channel.
“The complex’s capacity is 10 million tons of iron ore pellets per year. They will be produced from iron ore raw materials from the Yakovlevsky and Olenegorsky GOKs (mining and processing plants – Kommersant),” the statement says.
According to the company, iron ore pellets will make up 90% of CherMK’s blast furnace mine. After the launch of the complex, solid fuel consumption will be reduced by 25%, and the production of blast furnaces will increase by 9%. The Severstal press service added that this will reduce pollutant emissions by 133 thousand tons per year and greenhouse gas emissions by more than 2 million tons per year.
On September 28, the head of Severstal’s investment development department, Sergei Sharygin, announced discussions about the construction of a complex for the production of pellets. According to him, the company estimates investments in the project at approximately 70 billion rubles. He named the preliminary construction period for the complex as 2023–2026.
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