Metalloinvest increases pellet shipments to NLMK

Moscow, Russia - 19 August 2016 - Metalloinvest is increasing shipments of pellets to Novolipetsk Steel (NLMK) by 900,000 tonnes in the second half of 2016. Lebedinsky GOK and Mikhailovsky GOK will supply the products to NLMK's main production site in Lipetsk. The total volume of pellet shipments this year will amount to 5.4 million tonnes.

Andrey Varichev, CEO of Management Company Metalloinvest, commented: 'Metalloinvest's production capacities allow it to meet growing domestic demand for high-quality iron ore products, which is one of our strategic priorities. According to the terms of this latest agreement, we will increase pellet shipments to NLMK, with whom we enjoy a longstanding and mutually beneficial partnership.'

The long-term pellet supply contract, which was signed in 2011, was extended until 31 December 2016. The pricing under the contract takes into account current market indicators, as well as global market price trends.

 

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For more information, please contact the Investor Relations Department:
Artem Lavrischev
Head of Investor Relations
E: ir@metalloinvest.com
T: +7 (495) 981-55-55


 

_{Metalloinvest is a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel. The Company has the world's second-largest measured iron ore reserve base and is one of the lowest-cost iron ore producers.}

_{Metalloinvest is wholly owned by USM Holdings. Alisher Usmanov is the major beneficiary of USM Holdings (48%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).}