Stoilensky GOK, a company of NLMK Group, resumed production of iron ore products in hot test mode on September 22, which was suspended on September 7 due to the collapse of the conveyor gallery for ore supply.
Recovery took 12 days from the start of work - two days faster than planned. All work was carried out around the clock. 800 employees of SGOK, NLMK Group companies and contractors worked at the site.
The total cost of repairs was about 250 million rubles.
During a forced shutdown at SGOK, major overhauls were carried out at the concentrator and factory pellets, which were planned at the end of 2020 and in 2021. Optimization of repairs will reduce the volume of concentrate production losses in 2020, as well as increase production next year.
During the restoration work, NLMK, the main consumer of SGOK's products, was provided with iron ore raw materials thanks to its own reserves and external supplies. The incident did not affect NLMK's steel and rolled products production.
Information about NLMK Group
NLMK Group is a vertically integrated steel company, the largest in Russia and one of the most efficient steel producers in the world.
NLMK Group's metal products are used in various industries, from construction and mechanical engineering to power equipment and offshore wind turbines.
NLMK's production assets are located in Russia, Europe and the USA. The company's steel production capacity exceeds 17 million tonnes per year.
NLMK demonstrates high cost competitiveness among global manufacturers, the company's profitability is one of the highest in the industry. The company's revenue for 2019 was $ 10.6 billion, EBITDA was $ 2.6 billion. The Net Debt /EBITDA ratio was 0.7x. The company has investment grade credit ratings from S&P, Moody's, Fitch and RAEX (Expert RA).
NLMK's ordinary shares, which have a free-float of 18.6%, are traded on the Moscow Stock Exchange (ticker “NLMK”), global depository shares - on the London Stock Exchange (ticker “NLMK: LI”). The share capital of the Company is divided into 5,993,227,240 ordinary shares with a par value of 1 Russian ruble. More information about NLMK's share capital can be found here.
For more information about NLMK Group, please visit the website.
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