Severstal has purchased 100% of Yakovlevsky Mining and Processing Works shares for 7.89 billion rubles.
Their major part was received as part of the debt payment from Metal-group LLC.
In July 2017 Severstal bought out the LLC debt to Gazprom.
In 2018 Metal-group was declared bankrupt.
Severstal will continue developing Yakovlevsky GOK. This year ore output has already grown by 50% YoY, to 1 million tons.
30 new machines have been purchased.
Until 2023 the annual output is expected to increase 5-fold, to 5 million tons.
Investments total 25 billion rubles.
The number of employees will be doubled to 2.5 thousand people. (Ukrainian metal)