IMH cuts investment programm by 50%

IMH investment program includes completion of a number of large projects, such as construction of the second stage at the Butovskaya mine by 2017; further construction of the Tikhova mine by 2018; development of the second mining level at the Gubkina mine by 2019; and reconstruction of the blast furnace #1 (BF-1) at Tulachermet in 2018. The completion of IMH’s upstream projects will make the company fully self-sufficient in high quality iron ore and coal by 2020. Commissioning of BF-1 will result in production of pig iron increase, including premium grades with low sulphur content.

In addition to the large investment projects, IMH implements a number of operational activities aimed at quick return of investments. In particular, Tulachermet completes the reconstruction of its power facilities that has significantly reduced the company’s cost of energy. IMH is planning to commission the external desulphurization unit at Tulachermet by the end of October 2015. This will reduce costs for pig iron production and ramp up premium low sulphur grades output. Koks is constructing its own power plant, which will fully utilize coke oven gas and reduce energy costs for the company.