Russia: MMK approves new energy policy

Magnitogorsk Iron & Steel Works (MMK) CEO Pavel Shilyaev has approved a new energy policy for the company, the strategic goal of which is to reduce energy costs in the cash cost of MMK’s products. To achieve this goal, the company will improve its system for monitoring the use of energy resources, increase the efficiency…

Russia: impact of COVID-19 on MMK Group’s performance

A high-alert mode has been introduced on the territory of MMK Group enterprises, and special headquarters have been established under the leadership of the company CEO. The group is taking active measures to prevent the spread and reduce the risk of the coronavirus infection. During the current adverse conditions, the company has suspended foreign business…


Russia: MMK allocates over 8.7 billion rubles for environmental measures in 2019

In 2019, Magnitogorsk Iron and Steel Works (MMK) allocated more than 8.7 billion rubles for environmental protection, of which more than 5.3 billion rubles were spent on capital construction of new and reconstruction of existing environmental protection facilities. MMK allocated a further 3.4 billion rubles for on-going environmental protection measures including repairs and maintenance of…

Russia: MMK social investments up in 2019

In 2019, MMK Group’s financial contributions to charitable causes and social programs increased by almost 4% YoY, reaching 2.5 billion rubles. At the same time, the share of the plant itself in the group’s total volume of social and charitable expenses amounted to around 70%, totaling almost 1.8 billion rubles, 11.6% higher than in 2018.…

Russia: MMK shipments to domestic market up in 2019

In 2019, MMK Group’s shipments to the Russian market, including MMK-Lysva Metallurgical Plant, amounted to more than 8.3 million tons of metal products, up by 8% YoY. Denis Chernenko, Head of MMK’s Marketing Department spoke about this at the 13th Russian Conference “Regional Metal Trade of Russia” in Sochi. Shipments of hot-rolled steel accounted for…

Russia: MMK increases efficiency of innovative activity

In 2019, the economic impact of rationalization proposals implemented at Magnitogorsk Iron and Steel Works (MMK) amounted to 585.4 million rubles, up by 29% YoY. The importance of innovation in today’s global industry determines the need for companies to pay special attention to the development of rationalization and invention. In this regard, rationalization activities are…