Metalloinvest ups iron ore output 7% in H1 to 20.2 mln tonnes
MOSCOW. Sept 14 (Interfax) - Alisher Usmanov's Metalloinvest boosted iron ore output 7% in H1 2011 compared with H2 2010 to 20.2 million tonnes, the company said in a statement.
This was 18% more than the 17.1 million tonnes the holding produced in H1 2010.
Saleable iron ore shipments rose 26.2% in H1 2011.
Iron ore pellet production and sales were level with H2 2011 at 11.2 million tonnes and 6.9 million tonnes, respectively. Hot-briquette iron (HBI) production rose 10% to 2.6 million tonnes and shipments grew 17.8% to 1.2 million tonnes.
Steel product output and shipments fell 3.3% and 4%, respectively, to 2.9 million tonnes and 2.6 million tonnes, due to a higher share of high-value added products in sales.
Iron ore, pellet and HBI exports accounted for 75.5% of sales in H1 2011, with 52% or 5.7 million tonnes sold to China.
Metalloinvest includes iron ore producers Lebedinsky GOK and Mikhailovsky GOK and steel makers Oskol Electrometallurgical Combine (OEMK) and Urals Steel. Its beneficiaries are Alisher Usmanov (45%), Vasily Anisimov (20%), Vladimir Skoch (30%) and Farhad Moshiri (5%).
