IRC signs deal to supply up to 1 mln tpa of iron nuggets to Amur steel works
MOSCOW. April 13 (Interfax) - IRC Limited (IRC), the Petropavlovsk PLC spin-off that is developing iron ore projects in Russia's Far East, has signed a preliminary deal with the Amurmetall steel works to supply up to 1 million tonnes of direct reduced iron nuggets from 2017, IRC's wholly owned subsidiary, LLC Petropavlovsk Ferrous Metallurgy, said in a statement.
The nuggets will be produced by stage one of the Far Eastern Metallurgical Combine due to enter service bin 2017.
This will be Russia's first plant to produce iron nuggets using Japanese ITmk3 (Iron Technology Mark 3). Amurmetall currently melts scrap but will convert to DRI by the time the new plant is commissioned.
IRC comprises a mining business which is focused on exploring for, developing and operating industrial commodity projects in the Russian Far East and the north-eastern region of China. Its business includes the group's interests in the mining and processing projects at Kuranakh, Kimkan & Sutara, Garinskoye, Kostenginskoye, Garinskoye Flanks and Bolshoi Seym, the Vanadium Pentoxide joint venture, the Titanium Sponge project as well as supporting the bridge and seaport infrastructure projects, and its interest in the Giproruda Technical Institute.