Stoilensky has begun the mining of quartzites on the southern bank of the Stoilensky deposit. The development of this site and the overall expansion of mining operations will enable a 10% increase in production output year-on-year to 38 million tonnes in 2018 and will cover NLMK Group’s growing needs in iron ore.
NLMK Group spent over 5.7 billion rubles on environmental projects and initiatives in 2017. Whilst steel output grew by 2% yoy in 2017, specific emissions at NLMK Group’s Russian companies decreased by 1.5% to 20.5 kg per tonne of steel, water consumption decreased by 8%, and the recycling rate was 86.9%.
Shareholders of NLMK Group at its Extraordinary General Meeting held on 12 March 2018 voted to elect Mr. Grigory Fedorishin as the Group’s President and Chief Executive Officer (Chairman of the Management Board) for the period until 8 June 2018.
At a meeting held on 5 March 2018, NLMK Group’s (LSE: NLMK) Board of Directors recommended the Company’s shareholders to approve payment of Q4’17 dividends of RUB 3.36 per share at the upcoming Annual General Shareholder Meeting (AGM) which will be held on 8 June 2018.