Ukraine to sell pellet producer Krivoy Rog
Ukraine will auction its stake in the incomplete ore-enrichment plant Krivoy Rog GOKOR (Mining and Beneficiation Plant for Oxidized Ores) on 2 November with plans to close the deal by December, a source at the country"s State Property Fund tells Steel Business Briefing.
Ukraine is believed to own 56.4% of Krivoy Rog, Romanian interests 28% and Slovakian interests the balance, SBB understands from local unconfirmed reports.
The plant, which has a potential capacity of 6.6m t/y of iron ore pellets, with possibilities to extend this to 10m t/y, is in need of a large reconstruction programme. The new owner or owners would be partially responsible for funding this, SBB understands.
Mittal, Russia"s MMK, US Steel and China Steel are among those rumoured to be interested in the auction. US Steel recently said it was looking in Europe for additional raw materials for its operations in Kosice, Slovakia and in Serbia.
In 2003, LNM — now part of Mittal expressed its interest in GOKOR, and offered to complete its construction at an estimated cost of upto $800m. Its possible involvement is seen as a move to secure iron ore supplies for its Central and East European plants.
Ukraine is believed to own 56.4% of Krivoy Rog, Romanian interests 28% and Slovakian interests the balance, SBB understands from local unconfirmed reports.
The plant, which has a potential capacity of 6.6m t/y of iron ore pellets, with possibilities to extend this to 10m t/y, is in need of a large reconstruction programme. The new owner or owners would be partially responsible for funding this, SBB understands.
Mittal, Russia"s MMK, US Steel and China Steel are among those rumoured to be interested in the auction. US Steel recently said it was looking in Europe for additional raw materials for its operations in Kosice, Slovakia and in Serbia.
In 2003, LNM — now part of Mittal expressed its interest in GOKOR, and offered to complete its construction at an estimated cost of upto $800m. Its possible involvement is seen as a move to secure iron ore supplies for its Central and East European plants.