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Severstal to Build Ball-Rolling Mill at Cherepovets Mill
03/30/2012 - ОАО Severstal announced plans to build a ball-rolling mill worth around RUR 150 million at the company’s its Cherepovets Steel Mill, part of the Severstal Russian Steel Division.
ОАО Severstal announced plans to build a ball-rolling mill worth around RUR 150 million to ramp up its business efficiency at the company’s its Cherepovets Steel Mill, part of the Severstal Russian Steel Division and one of the world's largest standalone integrated steelworks by capacity.
“The decision to build the mill has been made with due regard for requirements of Severstal’s raw material producers, where this product is used in ball mills for ore degradation,” commented Alexander Grubman, CEO of Severstal Russian Steel.
The mill will have an annual capacity of 30,000 tonnes of grinding balls measuring 20 to 60 mm in diameter. The ball-rolling mill construction project is slated for completion in the 2nd quarter of 2013. Once completed, the project will make it possible for the company to fully localize the production of steel balls and waive the services of third-party manufacturers.
The annual economic effect from such replacement is expected to be as high as RUR 100 million.
ОАО Severstal, one of the world’s leading vertically integrated steel and steel related mining companies, has assets in Russia and the USA, in Ukraine, Latvia, Poland, Italy, Liberia and Brazil. Severstal’s gold business, Nordgold was established in 2007 and comprises mines and exploration projects in Russia, Kazakhstan, Burkina Faso and Guinea. In 2010, Severstal reported revenue of $13,573 million and EBITDA of $3,263 million. Severstal’s crude steel production in 2010 reached 14.7 million tonnes
