OREANDA-NEWS. On January 24, 2007 on the results of 2007 Metinvest Holding was ranked 6th in production of iron ore raw materials and in 2008 it will be among the 5 top ore mining world companies, reported the press-centre of SCM.

Last year ore mining companies of the Group produced 39 million tons of iron ore raw materials, which accounts for 2% of the world production of iron ore raw materials. The share of Metinvest companies in the world production of pellets is 3,5%.

At the regional market of iron ore raw materials Metinvest is one of the leaders occupying the second place behind Metalloinvest (Russia).

The position of Metinvest Group on the world market has strengthened as the result of consolidating with “Smart Holding” ore mining companies, in particular with Inguletsky GOK and due to organic growth of companies and increase in production volumes. Thus, after privatization, within 2004-2007, the volume of production at SevGOK and CGOK grew by 80% and 40% respectively.

Metinvest Group keeps investing into the projects aimed at increasing production volumes of own ore mining companies and within the next 5 years the Company plans to increase production by 30% - to 52 million tonnes of iron ore raw materials per year including: at SevGOK – to 20 million tons/year (+50%) and at Inguletsky GOK – to 18 million tons/year (+30%) – noted the honorable president of OJSC SevGOK and OJSC CGOK Alexander Vilkul.

In 2007 the volume of production of iron ore raw materials reached its highest level ever put at 1,9 bn. tons, which is up by 6% compared with 2006.

Brazil and Australia are the largest world producers of high quality iron ore. Each accounts for about 16% of the world production. Among major producers there are also India, Russia, Ukraine, Sweden and others.