Qarmet increased steel production by 14% y/y in January-September

Coal production by the Kazakh enterprise during the period increased by 2% y/y

The Kazakh steel plant Qarmet (formerly ArcelorMittal Temirtau) increased its steel production by 14% in January-September 2024 compared to the same period in 2023 – to 2.6 million tons. This is stated in the company’s press release.

Coal production for 9 months reached 4.7 million tons, which is 2% more y/y, and concentrate production increased by 17% y/y – up to 2.3 million tons.

«Production volumes have increased and all current improvements testify to the effectiveness of the approved “5-9-5” program: production of 5 million tons of steel, mining of 9 million tons of coal, production of 5 million tons of concentrate by 2028,» said Qarmet General Director Vadym Basin.

He also added that in May 2024, the enterprise showed the best production result in the last 5 years, having produced 330,000 steel in one month.

«At the same time, industrial safety is recognized as the general criterion for further progress. The company has carried out a large-scale independent audit of all assets, as a result of which it is carrying out a large-scale modernization of production processes with a priority on increasing the level of labor safety», summarizes Qarmet’s management.

As GMK Center reported earlier, Qarmet plans to increase steel production to 3.5 million tons in 2024. Shipment of metal products to customers in the current year is planned in the amount of 3.2 million tons.

Previous plans provided for a 13% increase in steel production compared to 2023, to 3.3 million tons, and a 10% increase in iron ore concentrate to 10 million tons. At the same time, a 2% decrease in coal production is expected.