Metalloinvest to construct oxidized quartzite processing plant for 210 bln rubles

ST. PETERSBURG. June 6 (Interfax) - Metalloinvest plans to construct a plant to process oxidized ferruginous quartzite at the Mikhailovsky Mining and Processing Plant (GOK), an Interfax correspondent reported from the ceremony to sign the company's agreement with the Kursk Region.

Investments in the project are estimated at 210 billion rubles.

New production is planned for launch in 2028. The design capacity of the plant is more than 7 million tonnes of premium iron ore concentrate per year with the possibility of further boosting capacity to 11 million tonnes.

The concentrate obtained from oxidized quartzite will be for the production of pellets with iron content of up to 68% and a low level of silicon dioxide. These pellets meet the requirements of today's market and are an environmentally friendly for use in green metallurgy based on direct iron reduction technology.