Metalloinvest, a leading global producer and supplier of HBI and iron ore products, and one of the regional producers of high-quality steel, has updated its Development Strategy.
The strategy aims to allow the company to maintain the leading position in the metals and mining industry and continuously enhance the company’s efficiency.
In 2015, Metalloinvest announced Strategy 2023, which aimed to strengthen the company’s position as the global leader in hot briquetted iron (HBI) production; implement a major investment program aimed to improve the efficiency of development and production; and increase the share of high value added products as well as improve product quality. The key operational and financial milestones of Strategy 2023 were achieved and already surpassed in 2018. These excellent results demonstrate that the company chose the right strategic approach and created a platform to achieve long-term leadership.
In spring, the Board of Directors of Metalloinvest decided to update the strategy considering the opportunities and challenges of the new strategic cycle. The company will maintain the direction of development, which proved its effectiveness in production of high value added products as well as improving the quality of products.
At the same time, the updated strategy focuses on production safety, the protection of employees’ lives and health, environmental protection and the digital transformation of business processes.
Metalloinvest believes its mission is to provide the global steel industry with high-quality iron ore and metalized products to boost production efficiency.
Andrey Varichev, CEO of Management Company Metalloinvest, said: “The updated strategy is based on an in-depth analysis of market trends. We see significant opportunities in meeting the growing global demand for high-quality raw materials for electric steel smelting. The company has advanced, high-capacity pellet and HBI production facilities. The use of raw materials with a high iron content and low impurity levels allows our steelworkers to reduce atmospheric emissions. The focus of the updated strategy is sustainable development. We are convinced that metallurgy should be a green and safe industry. Metalloinvest’s goal is to completely eradicate workplace accidents.”
The strategy will continue implementing a comprehensive development program at Metalloinvest enterprises, aimed at increasing the quality and sales of iron ore, metal and steel products, and the digital transformation of business processes.
At Lebedinsky GOK and Mikhailovsky GOK, construction of conveyor systems for transporting iron ore (cyclical and continuous transportation technology and the crushing and conveyor facility) continues.
OEMK is implementing a comprehensive program to increase customer focus and the quality of SBQ and plans to build ball rolling facilities and steel furnace No. 5, which is a part of the complex steel processing facility No. 4.
Ural Steel continues the modernization of blast and steel making production, the construction of medium pressure boilers in the thermal power plant, and the construction of air separation unit No. 6 for outsourcing in partnership with the company Linde.
Projects are being implemented at all enterprises to develop laboratory equipment, automation and mechanization of technical servicing and repair functions. (MetalInfo/Ukrainian metal)