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Metinvest invests in upgrading of mining equipment

22 November 2017

Metinvest Group and PJSC BelAZ signed the long-term cooperation agreement. BelAZ guarantees to supply quarry dump trucks to mining and processing enterprises of Kryvyi Rih with carrying capacity of 30-50 tons and over 130 tons before the end of 2020. Within three years, the vehicle fleet of beneficiation plants in Kryvyi Rih will be replenished with about 50 heavy vehicles.

According to the terms of the agreement, one of the world's largest manufacturers of mining trucks will supply vehicles and spare parts to Metinvest GOKs within the next the next three years. Metinvest, in turn, will supply to BelAZ c. 13 thousand tonnes of rolled steel products per year to be used for the manufacture of dump trucks.

The two giants - a steel maker and a heavy machine builder - plan to deliver a joint program to increase the capacity of BelAZ vehicles through the development of a service centre in Kryvyi Rih, establishment of efficient logistics for supply of spare parts, and the training of personnel. In particular, special training simulators will be used to train the drivers to operate heavy dump trucks.

The upgrading of the mining vehicles is a part of the long-term Investment Program of Metinvest Group. Currently, more than 200 BelAZ heavy dump trucks are in operation at GOKs in Kryvyi Rih.

Olga Ovchinnikova, Logistics and Purchasing Director of Metinvest Group:

— Upgrading of heavy quarry trucks is one of the priorities in assuring the stable operation of Kryvyi Rih GOKs. BelAZ has been the main supplier of mining trucks for Metinvest for several years now. The three-year agreement allows both companies to streamline the delivery of their products, implement new projects for equipment supply, and improve the service level.

Piotr Parkhomchik, General Director of OJSC “BELAZ”:

— We have bilateral cooperation with Metinvest. We are not only the supplier of the mining vehicles, but also a buyer of steel products manufactured by Metinvest Group. The efficiency of our dump trucks affects the competitiveness of Metinvest's products, which will also have an effect on us. Therefore, we are interested in achieving the maximum synergy for our companies.

For editors:

METINVEST GROUP is a vertically integrated group of steel and mining companies that manages every link of the value chain, from mining and processing iron ore to making finished steel products. It comprises steel and mining production facilities located in Ukraine, Europe and the US, as well as a sales network covering all key global markets. The Group generated US$3.913 billion of revenues and a 21% EBITDA margin for the first six months of 2017. The main shareholders of METINVEST B.V. (the holding company of Metinvest Group) are SCM (71.24%) and Smart Holding (23.76%), which partner in its management.

OJSC «BELAZ» is the Management Company of  "BELAZ-HOLDING", which is a major world's manufacturer of heavy and ultra-heavy mining dump trucks and other heavy vehicles used in mining and construction industries.