Posted on 10 Nov 2022
Russian iron ore and steel producer Metalloinvest and TGC-1 have signed an agreement on the development of long-term cooperation in the production and purchase of green energy.
The agreement was signed at the Metal Expo 2022 exhibition in Moscow this week, Kallanish notes.
“Metalloinvest has always been at the forefront of decarbonisation of the mining and metallurgical industry,” says the company’s first deputy general director, Alexei Kushnarev. “In 2021, the company's total direct and indirect CO2 emissions decreased by 19%. In the current environment, we remain committed to our Climate Strategy to further reduce the carbon footprint of our products. The agreement with TGC-1 will increase the share of low-carbon electricity – hydroelectric power plants, nuclear power plants and renewable energy sources – in the consumption of our plants up to 60%.”
“Electricity from renewable sources produced at TGC-1 hydroelectric power plants allows companies to follow a long-term sustainable development strategy, reduce their carbon footprint and reduce indirect energy emissions in the production of products,” notes TGC-1 deputy managing director for electricity Alfred Yagafarov.
Metalloinvest and RATM Holding agreed also during Metal Expo 2022 to cooperate on increasing the competitiveness of domestic production of mining and metallurgical equipment and reducing dependence on foreign technologies (see Kallanish passim).
Metalloinvest is also eyeing increasing steel production for Russian construction projects amid Western sanctions against Russia after it invaded Ukraine. Russian authorities have developed a roadmap to expand the scope of steel in the Russian construction complex for 2022-2026, the steelmaker says.
The company’s crude steel production was stable on-year in the first half of 2022 at 1.7 million tonnes (see Kallanish passim). Iron ore output decreased by 2.4% to 19.9mt. Output of hot-briquetted iron/direct reduced iron was up 5.1% to 4.1mt.
Source:Kallanish
