OREANDA-NEWS. On July 09, 2008 Metalloinvest Holding secured long term contracts to supply iron ore products to metallurgical plants in Russia and Ukraine, reported the press-centre of Metalloinvest.

According to the contract signed with Magnitogorsk metallurgical integrated works Lebedinsky GOK (a subsidiary of Metalloinvest) will deliver 100 000 tons of concentrate per month.  The supplies are planned till the end of 2008 at the fixed price.

The 3 years long contract signed with Tulachermet assumes shippings of pellets from Mikhailovsky GOK and concentrate from Lebedinsky GOK (80 000 and 50 000 tons per month respectively).  The price of iron ore production is  subject  to monthly adjustment.

A 3 years long contract with annual price adjustment was signed with Mariupol metallurgical integrated works (Donetsk region, Ukraine). The contract assumes monthly shippings of 100 000 tons of Lebedinsky GOK’s concentrate.

The contracts signed have extended the list of long term partnership agreements that Metalloinvest concluded with such enterprises as Novolipetsk metallurgical integrated works and West-Siberian metallurgical integrated works. Metalloinvest was the first company in Russia to introduce long term contracts  for iron ore sales with the Russian consumers. This position is based on  the international benchmarks in iron ore trading and was adopted by Metalloinvest  Holding  in 2007.