OREANDA-NEWS. The Cherepovets Steel Mill, part of the Russian Steel division of PAO Severstal, one of the world’s leading steel and steel-related mining companies,  and one of the world’s largest integrated steel mills, has reduced production costs by approximately 6.5 billion rubles.    

Sergei Toropov, CEO of  Severstal’s Russian Steel division, said: “We have achieved more than double the cost reduction targets set out in the Company’s 2014 business plan. This was achieved by reducing costs across the entire production chain.”

The most significant improvements were realised in [coking coal agglomeration] and steel production, with costs reduced by over 1.4 and 2.2 billion rubles respectively. [The energy management department] also made significant savings of more than 800 million rubles. 

Sergei Toropov said: “In 2015 our drive for internal efficiency will focus heavily on introducing global team initiatives to reduce steelmaking costs, enabling us to continue to price our steel and rolled products more competitively.”