Northern Mining reduced the cost of iron ore mining in the Hannivsky quarry by $1.5/t

The Northern Mining and Processing Plant (Northern Mining) of the Metinvest group reduced the cost of iron ore extraction in the Hannivsky quarry by $1.5/t. This is stated in the press release of Metinvest.Media.

This was facilitated by the continuous work of quarry specialists on improving production and operational improvements in order to meet planned indicators and reduce the cost of production. The workers of the united Mining systematically examine the state of equipment, production processes and the possibility of improving work for high-quality and fast performance of production tasks.

«In August-September, we already have a decrease in the cost price of $1.5/t of ore. We achieved this by revising quarry logistics, reducing the distance of transportation of mining mass, optimizing the operation of equipment and measures that reduce the cost of drilling and blasting for us. We do not stop there: we continue to search for energy-efficient solutions, develop optimal transport connections and promising directions for conducting mining operations. Right now, we are conducting tests on the expansion of the network of production wells, which will allow us to save even more on drilling and blasting work,» Yuriy Stuliy, the head of the Hannivsky quarry of the Northern Mining, said.

Hannivka miners also have a separate approach to energy efficiency. For quite a long time, specialists studied the experience of the May Day quarry of the Northern Mining, studied the operation of the equipment. Currently, experts are thinking about how to apply the approaches of their colleagues and develop their own effective measures with the Hannivka team aimed at reducing the cost of iron ore raw materials.

Currently, miners are mining in the southern and central parts of the pit: this is where the overburden ratio is the lowest. Ore with a magnetic iron content of 25.0% and enrichment of 67.0% is transported to the ore beneficiation factory for the production of A1 grade concentrate.

As GMK Center reported earlier, in January-June 2024, Metinvest increased the production of iron ore concentrate by 87% compared to the same period in 2023 – to 8.89 million tons. In the II quarter, the output of marketable iron ore products fell by 14% q/q – to 3.81 million tons, in particular, concentrate – by 22% q/q, and pellets – increased by 2% q/q, to ​​1.61 million tons. Limited production affected the performance of mining and processing plants of electricity in Ukraine due to Russian shelling from mid-March 2024 and high demand for imported high-cost electricity.