Metalloinvest plans to boost HBI production by 20 mln tonnes for project with Chinese partners

VLADIVOSTOK. Sept 5 (Interfax) - Metalloinvest plans to increase the production of hot briquetted iron (HBI) by 20 million tonnes, Deputy General Director for Government Relations Yulia Shabala said.

"We have a very big project that we want to deliver with China, and we have even announced it at all intergovernmental commissions - about increasing the production of hot briquetted iron," she said at the "Russia and China: Together Towards Carbon Neutrality by 2060" session during the Eastern Economic Forum.

"Metalloinvest is a world leader in HBI production today. We currently produce 4 million tonnes and we plan to increase production by another 20 [million tonnes]. This is a huge project that we plan to carry out with our Chinese partners," Shabala said.

She told reporters that the project, which will be carried out in Russia, was under discussion, and Metalloinvest was ready for various forms of cooperation with Chinese partners.

Metalloinvest sold 3.9 million tonnes of HBI in 2023.

Metalloinvest is the biggest FSU iron ore producer. Its sole shareholder as of the end of June 2024 was LLC USM Metalloinvest.