Olkon JSC (Olenegorsk Mining and Processing Plant, part of Severstal ) has launched an investment project to develop the Olenegorsk iron ore deposit, the company's press service said. "The project budget exceeds 5 billion rubles," Olkon General Director Nikolai Seleznev was quoted as saying. The investment plan involves open-pit mining until 2044-2045, transitioning to underground operations thereafter. Development requires relocating existing infrastructure including water pipelines, slurry ...

Russian steelmakers are proposing to index the cut-off price used to calculate the excise tax on steel, which was set at 30,000 rubles per tonne in 2022, by accumulated inflation over the past four years, Severstal CEO Alexander Shevelev said in an interview with Interfax on the sidelines of the St. Petersburg International Economic Forum. "We have submitted our proposals to the relevant ministries. They are still being discussed. We don't know what the final decision on the excise will be," ...

"In my opinion, we cannot even rule out halting some metallurgical production facilities in the Russian Federation to balance supply," Shevelev said during an interview with the Rossiya-24 television channel. "I hope it won't come to that, and we'll manage to somewhat loosen the tight grip of monetary policy in time. But currently, all signs indicate we might face situations including even halting operations at some plants with unfavorable production costs," he said. When asked whether Severstal ...

Severstal plans to invest nearly 58 billion rubles in 2025 into projects aimed at achieving its climate goals and decarbonization. Most of the funds will go toward constructing a complex for iron ore pellet production, the company’s press service announced during the presentation of its integrated 2024 report. “Environmental protection initiatives cost 10.3 billion rubles in 2024. To meet its 2030 climate targets, Severstal intends to allocate 57.9 billion rubles in 2025, primarily for building ...

Severstal continues to increase the share of new products in its sales portfolio by developing innovative steels and solutions for customers in key industries in Russia. Severstal's innovations for infrastructure projects and the construction segment include Grani Pro, a multifaceted trough profile sheet, which is a Russian alternative to the traditional Larsen sheet. For the machine building industry, Severstal continued to develop the POWERS range of wear-resistant and high-strength steels. ...

Severstal has completed the modernization of pipe acceptance inspection platforms at its large-diameter pipe production hall, located at the company’s production site in the Kolpino district of St. Petersburg. The total investment in the project exceeded 260 million rubles. “The modernization will significantly increase the speed of pipe acceptance—now up to four pipes can be inspected and reworked simultaneously. This will boost annual production output for key clients by 15.5 thousand tons,” ...

Severstal was the first in Russia to produce a new sheet piling solution for hydraulic structures, transport and civil engineering - cold-formed sheet piling. The product is marketed under the Grani brand. One of the main advantages of the new type of sheet piling is lower metal intensity compared to alternative solutions due to constant profile thickness and increased width, which allows to reduce the weight of supplied structures by up to 30%. The piles are manufactured by cold forming (cold ...