Metinvest spends USD 19 mln to raise mining truck fleet 10% in 2012

Metinvest Holding (METINV) reported it purchased 17 dumpster trucks this year for its three iron ore mining subsidiaries. The holding’s total investment in the new 130-tonne capacity trucks amounted to USD 18.9 mln, the company said. The purchases increase the truck segement of Metinvest’s mining division to 168 units. Its iron ore mining segment, the only division in which output grew in 9M12, remains the key profit driver for Metinvest as the holding has some power to set iron ore prices on the local market. Out of USD 362 mln of 1H12 capital expenditures of Metinvest, 69% went to its mining division.