The Ukrainian mining and steel producing company Metinvest Holding has announced that it plans to increase its production of high-quality merchant iron ore concentrate with Fe content of over 67% to up to 6.8 million tons through the construction of a second magnetic and flotation metal content upgrading facility at its iron ore subsidiary Ingulets Mining and Processing Works (InGOK).
The total value of the project will amount to about UAH 340 million with the facility planned to be commissioned in October 2011.
Accordingly, the capacity of the second magnetic and flotation metal content upgrading facility will be around 3.6 million tons of merchant concentrate per year. Currently, InGOK operates its unique for Ukraine first magnetic and flotation metal content upgrading facility with an annual production capacity of over 3.2 million tons.
In 2010 Metinvest will invest over UAH 130 million in construction of the plant. (SteelOrbis)