Metals Companies Vie For Control Of Pervomayskaya Mine

Concorde Capital: MMKI and SGOK are the likeliest winners of the tender. MMKI can offer a competitive proposal for the mine, as it lacks its own iron ore capacities. SGOK is in close proximity to the Pervomayskaya mine and was the previous beneficiary of the mine’s iron ore. Pervomayskaya’s designed capacity amounts to 5 mn mt of iron ore, with an iron content 51-52%. This implies more than 3.8 mn mt of concentrate with an iron content of more than 60%. The mine’s reserves would take 200-300 years to process in full.