China's Fambition starts supplying equipment for Severstal's Olkon mining division

MURMANSK. Aug 22 (Interfax) - Chinese mining equipment manufacturer Fambition has supplied equipment for the first time to JSC Olkon, an iron ore mining and processing division of Russian steelmaker Severstal , Olkon's press service told Interfax.

The mine has received a Fambition load haul dumper. Olkon has taken delivery of a total of 14 pieces of equipment, including equipment made by Chetra and Belaz.

The new equipment will be used at two Olkon's two sites: Komsomolskaya, which includes the Pechegubsky and Komsomolsky open-pit mines, and the main site, which includes five pits.

Olkon acquired hydraulic excavators made by Japan's Hitachi in March 2023.

Olkon, or the Olenegorsky mine and processing plant is considered the northernmost iron ore concentrate producer in Russia. It produces concentrate with iron content of more than 68%, which it primarily supplies to Severstal's Cherepovets Steel Mill.

Severstal's key mining divisions are Karelsky Okatysh in Karelia, Olkon in Murmansk Region and Yakovlevsky GOK in Belgorod Region.