SCM Plans to Invest in Pivnichny & Centralny Iron Ore in 2007

System Capital Management (SCM) intends to invest USD 184.5 mln in Pivnichny Iron Ore (SGOK) and USD 56.7 mln in Centralny Iron Ore (CGOK), two iron ore producers it controls through its steel holding Metinvest, to renovate and modernize production in 2007. A company press release also indicated that both Pivnichny Iron Ore and Centralny Iron Ore finished 2006 with a profit, USD 156 mln (down from USD 268.9 mln in 2005) and USD 55.5 mln (from USD 95.4 mln in 2005) respectively.