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  • Metalloinvest commenced pilot production at its oxygen station with a cryogenic air separation unit (ASU #3) at OEMK.
  • Coke Oven Battery #6, a key part of Metalloinvest’s investment programme, has come into operation at Ural Steel.
  • Metalloinvest entered the active phase of installation works for HBI-3 Plant (HBI-3) at Lebedinsky GOK, which will have an annual production capacity of 1.8 million tonnes.
  • Fitch Ratings upgraded Metalloinvest’s credit rating from ‘BB-‘ to ‘BB’ with a stable outlook.
  • Metalloinvest signed a pre-export financing deal with a club of international banks, including Deutsche Bank, ING, Société Générale, BNP Paribas, Credit Agricole CIB, UniCredit Bank, BTMU and Credit Suisse.
  • Standard & Poor’s upgraded Metalloinvest’s long-term rating from ‘BB-‘ to ‘BB’ with a stable outlook.



  • Ural Steel completed the planned decommissioning of the open-hearth production in order to improve cost efficiency and environmental safety.
  • OEMK commissioned a modern sewage-water treatment facility, which significantly improved the quality of sewage-water treatment, reducing river water intake by half and cutting sewage-water discharge into the Oskol River.
  • Metalloinvest and Sberbank signed an agreement to refinance an existing credit facility issued by the bank for RUB 55 billion.
  • Ural Steel completed modernisation works at Sintering Machine #4. As a result, the machine’s annual production capacity increased by 10%.
  • Metalloinvest organised the first “Hot Briquetted Iron (HBI) Application in Steelmaking: Technology, Financing and Markets” conference at Lebedinsky GOK.
  • OEMK brought a new exhaust gas purification unit into pilot operation at electric arc furnaces #3 and #4. The installation of the gas purification unit enabled the Company to reduce dust emissions at the two furnaces by 50%. Dust levels in the workplace have fallen on average by 100%.
  • Moody’s Investors Service upgraded the Company’s credit rating from ‘Ba3’ to ‘Ba2’ with a stable outlook.
  • Fitch Ratings revised Metalloinvest’s rating outlook from stable to positive and reaffirmed its ‘BB-’ long-term issuer default rating.
  • Metalloinvest elected a new Board of Directors, which included Irina Lupicheva, Non-Executive Director and the first woman to serve on the Company’s Board.
  • Metalloinvest issued rouble-denominated bonds worth RUB 10 billion with a coupon rate of 8.9% per annum, maturing in 2023 with an early redemption option in 2018.
  • Metalloinvest successfully issued Eurobonds for a total amount of USD 1 billion with a coupon rate of 5.625% per annum maturing in 2020.



  • Ural Steel commissioned Air Separation Unit #5 in the oxygen compression shop and installed a vacuum degasser in the electric arc furnace shop.
  • Metalloinvest completed the sale of greenhouse gas emission reduction units (ERUs) in line with the Kyoto Protocol to the United Nations Framework Convention on Climate Change. The proceeds from the sale were invested in projects related to the implementation of modern technologies at Metalloinvest’s enterprises in order to reduce their environmental footprint.
  • Metalloinvest signed a contract with a consortium made up of Siemens Metals Technologies (Austria) and Midrex Technologies, Inc. (USA) to build HBI-3 Plant at Lebedinsky GOK in Gubkin (Belgorod region).
  • Standard & Poor’s Ratings Services assigned Metalloinvest a ‘BB-’ long-term credit rating with a positive outlook.
  • Metalloinvest signed an agreement with Linde (Germany) to build a new oxygen facility at OEMK with a cryogenic air separation unit with a capacity of at least 20,000 m3/h of oxygen.
  • Metalloinvest sold its transport subsidiary Metalloinvesttrans to Globaltrans.



  • Moody’s Investors Service assigned Metalloinvest a ‘Ba3’ corporate rating with a positive outlook.
  • Fitch Ratings assigned Metalloinvest a ‘BB-’ long-term issuer default rating in local and foreign currency with a stable outlook.
  • Metalloinvest successfully issued USD 750 million Eurobonds with a maturity of five years and a coupon rate of 6.50% per annum.
  • Metalloinvest obtained syndicated loans (pre-export financing) for 5 and 7 years amounting to USD 3.1 billion, the largest amount in Russia in the post-financial crisis period.



  • Metalloinvest was the first Russian ferrous metals company to meet REACH registration requirements.
  • IMC Montan confirmed Metalloinvest’s proven and probable iron ore reserves at 14.9 billion tonnes according to JORC international classifications.
  • A finishing plant was put into operation at OEMK.



  • Metalloinvest and Rosnedra (Federal Agency for Subsoil Use) signed a licensing agreement to develop the Udokan copper deposit.



  • Ural Steel reconstructed Plate Mill 2800 and its electric furnaces to increase total capacity to 2 million tonnes of steel per year.



  • Lebedinsky GOK completed the construction of HBI-2 Plant.
  • Mikhailovsky GOK implemented new concentrate flotation technology.



  • CJSC METALLOINVEST’s assets (Mikhailovsky GOK and Ural Steel) were consolidated with the assets of CJSC Gazmetall (Lebedinsky GOK and OEMK). All of the assets were consolidated to form a single holding company, within which the enterprises co-ordinated their sales, investment strategies and other activities.

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