Metinvest enterprises receive $53.8 mln from operational improvements in Q1
The enterprises of Metinvest Group, the largest Ukrainian mining and metallurgical holding, according to the results of operational improvement measures implemented in January-March 2020 brought $53.8 million of economic effect, of which about $25 million fell to Mariupol-based Illich Iron and Steel Works and Azovstal Iron and Steel Works.
The Metinvest-Mariupol division said on its Facebook page on Monday, May 4, that the greatest result was made by Azovstal, which reduced electricity consumption in the thick-sheet workshop and significantly reduced the length of the sheet production by using a manual marker for machine sheet marking after hot plate leveller. In the lime-burning workshop, the amount of calcine limestone was increased by 2% at a similar gas flow rate due to a change in the torch type of the furnace burner. Due to the implementation of these and other measures, the metallurgical plant saved $17.6 million.
In turn, Illich Iron and Steel Works in the first quarter following the replacement of four furnace carriage coke feed in the blast-furnace workshop with the three furnace carriage coke feed reduced coke and electricity consumption. In the lime-burning workshop, an increase in the load weight of 60 kg per furnace carriage allowed to save natural gas, without reducing the productivity and quality characteristics of the products. Due to a qualitatively new interaction between the remote sections of combined heat and power plants (CHPP), which previously belonged to CHPP-1 and CHPP-2, the minimum emission of blast furnace gas to flare was achieved and additional electricity generation was obtained. The economic effect of operational improvements introduced at the plant amounted to $7.3 million in January-March 2020.
Metinvest Group is a vertically integrated group of steel and mining companies that manages every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. It comprises steel and mining production facilities located in Ukraine, Europe and the United States, as well as a sales network covering all key global markets. Metinvest business is divided for financial reporting purposes into two segments: metallurgical and mining. The group ended the first quarter with revenues of $2.9 billion and an EBITDA margin was 15%.
Metinvest Holding LLC is the management company of Metinvest Group.