18th Oct 2019 18:28
(Alliance News) - Russian steelmaker Evraz PLC late Friday said it acquired Kachkanarsky Ore Mining and Processing Plant from Rock Capital Partners LLC for RUB249 million, or USD3.8 million.
KGOK is a pilot plant and technology provider for tailings processing, mining, beneficiating, and preparing of iron ores and manganiferous ores.
"Evraz has an opportunity to enjoy the positive economic effect from its tailings being dumped with the use of the RCP's technology which was developed specifically for processing of KGOK's tailings. The feed for the processing is free of charge for Evraz and almost infinite taking into account the amount of KGOK's tailings," Evraz said.
Shares in Evraz closed down 4.6% at 375.20 pence in London on Friday.
By Arvind Bhunjun; [email protected]
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