MMK Illich Metal Reaches Agreement On Iron Ore Supplies.
21 July 2008
In June MMK Illich Metal (MMKI: HOLD) agreed to rent Ukrmehtehnabor for a term of five years with the possibility to prolong the lease with the approval of Industrial Policy Ministry and Antimonopoly committee of Ukraine. Ukrmehtehnabor which has an open pit iron ore mine will supply the company with 40% agglomerate ore needs. In January-June 2004 Ukrmehtehnabor extracted 222 mt of ore. MMK Illich Metal does not have in-house iron ore facilities and previously was dependent on the business groups which control Ukrainian GOKs.
