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MMK Reports 2010 Investments in Environmental and Safety Improvement
Mar. 4, 2011 Celebrating its investments toward a better ecology through reduction and prevention of harmful impact on the environment, Magnitogorsk Iron & Steel Works (MMK) has posted the 2010 results of its Environmental Program. As part of the program, the company implemented 35 special projects for the total of over 2.2 billion rubles (over $73 million).
Most of the projects were aimed at developing increasingly safe water and gas purification systems and waste disposal facilities. MMK said it would work on ten additional projects of the kind in 2011.
As a result of its environmental investments, the company was able to reduce gross atmospheric emissions by 8.2 thousand tonnes in 2010 despite an 18% increase in crude steel production and 17% increase in commercial steel products output.
The share of recycling water consumption at MMK stood at 97.3% of the company’s total water intake. The volume of reusable waste for the sintering mixture grew by 6.4% to reach 2.182 million tonnes, while the volume of recycled slag was increased to 9.152 million tonnes, a 32.75% increase from 2009.
MMK’s total 2010 investment in environmental safety amounted to 2.239 billion rubles including 1.373 billion rubles spent on new construction and existing environmental facilities renovation.
MMK is among the world's largest steel producers and is one of the leaders of Russia's steel industry. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of higher value added products. MMK realizes MMK-Atakas project in Turkey with annual capacity of 2.3 million tonnes of flat steel. In 2010, the MMK Group produced 11.4 million tons of crude steel and 10.4 million tons of commercial steel products. In 2009, MMK Group reported revenue of USD 5.081 billion, EBITDA of USD 1.285 billion, and profit of USD 219 million.