Metalloinvest and Kosogorsk Metallurgical Plant announce the signing of a contract

Metalloinvest and Kosogorsky Metallurgical Plant announced the signing of a three-year contract for the supply of pellets. The agreement stipulates that 1.9 million tons of products will be shipped to the Kosogorsk plant, which has good results on the Russian market in the production of high-quality cast iron, ferromanganese, as well as industrial and artistic casting. In addition, the company has successfully mastered the manufacture of bricks and crushed slag.

According to the signed agreement, prices will be fixed in accordance with the existing market indicators. The price calculation formula takes into account the dynamics of prices in the world market. Mikhailovsky GOK and Lebedinsky GOK (both part of Metalloinvest) will supply iron ore products.

Andrey Varichev, CEO of management company Metalloinvest Llc, said that "Stable supplies to Russian companies are a priority for Metalloinvest's operations. Long-term contracts allow our partners to plan their production and investment programs on a long-term basis, which ensures higher operational and financial efficiency."
Signing a new contract with the Kosogorsk Metallurgical Plant is part of the policy

Metalloinvest, which builds on long-term relationships with iron ore buying companies. This company policy guarantees stable sales of its high value-added products.

In order to improve corporate governance practices and simplify the organizational structure, effective July 1, 2014, the Management Company Metalloinvest LLC will become the Sole Executive Body of the Metalloinvest Holding Company.