+44 207 394 30 90 (London)

Onsite visit to the production site of Olenegorsk Mining and Processing Plant (PJSC Severstal).*

About the facility

Olenegorsk Mining and Processing Plant (Olkon JSC) develops the deposit of ferruginous quartzites of the Zaimandrovsky iron ore district
located on the Kola Peninsula (Murmansk region) outside the city Olenegorsk. The deposit is one of the raw material resources of the world’s
largest mining and processing companies PJSC Severstal. Olenegorsk GOK produces high-quality iron ore concentrate with iron content over 69%.
The main consumer of iron ore concentrate is the Cherepovets Metallurgical Plant of PJSC Severstal. In 2020, Olenegorsk GOK delivered 4.408 million tonnes of iron ore concentrate to consumers.

At present, ore is extracted from seven open pits and one underground mine. The total annual volume of ore production is 14.7 million
tonnes. The main technological equipment used in open-pit mining operations are EKG-10,12, 15 excavators, SBSH 250 MN drilling rigs, BelAZ 75137 dump trucks, Caterpillar 785C, VOLVO, Komatsu, Caterpillar front loaders. For underground mining operations – Sandvik LH514 and Sandvik LH514 E loading and delivery vehicles, Caterpillar R1700G, Sandvik Toro 40D, Sandvik TH540, Caterpillar AD45B dump trucks, Simba L6C drilling rigs.

Archievements

Realising the importance of rehabilitation and maintenance of the mineral resources base and ensuring the stable operation of the Olenegorsk GOK, the management of Severstal has approved a strategic programme for the long-term development of the company.

In recent years, the plant has significantly updated the fleet of basic technological and other equipment at all stages, put new facilities into operation, and performed a large amount of work within the framework of the project to introduce the Unified Standard for Social and Living Conditions. Along with production the social sphere is considered a priority at the Olenegorsk GOK. The plant employs more than 1.9 thousand people. In recent years, wages have been constantly growing and are quite competitive. Company employees and non-working veterans are provided with a wide range of various social benefits and guarantees. To ensure the social security of the staff, additional programmes of non-state pension provision and voluntary health insurance are being implemented. The management of the plant pays great attention to the support of such socially significant areas as sports, culture, health care, and education.

Plans

The new resident of the Russian Arctic – Olenegorsk Mining and Processing Plant – will be engaged in the development of the Pechegubskoye field, which will provide feedstock for the Olkon JSC. The company acquired a license for it in 2019. Peliminary reserves of the deposit are estimated at 80 million tonnes of iron ore. The implementation period of the investment project is 2019-2038 with full capacity to be reached in 2025. The investments amount is
estimated at more than 6 billion RUB. The investment project for the development and commissioning of the new field includes: quarry work, construction of an administrative and utility building and a maintenance building. Most of the funds from the project cost of about 5.7 billion RUB are planned to be spent on equipment for the mining and transport complex and the construction of a highway to the mining site, an electricity supply line, as well as a railway branch adjacent to the existing tracks.

The extraction of iron ores and the processing of 80 million tonnes of ore reserves at the Pechegubskoye field will allow Olkon JSC to produce slightly more than 20 million tonnes of iron ore concentrate additionally by 2038.

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