11 августа 200907:51
MMK launches Sosnovskiy mine
Magnitogorsk Iron & Steel Works (MMK) launched its Sosnovskiy mine in the course of a solemn opening ceremony last Friday. The enterprise received the license allowing the company to develop this Chelyabinsk Region-based black iron ore deposit in October 2003. In February 2007, MMK bought a 51% shareholding in Bakalskoye Mine Group, the Urals’ oldest iron ore mining enterprise. MMK BOD Chairman Viktor Rashnikov says this transaction was part of the company’s raw-material base building strategy, since MMK intended to build one through developing the local iron ore deposits. In September