07
Apr
18:09
UMMC signs major deal for Uzbek magnetite deposit
Uzbekistan has signed a preliminary agreement worth $1.5 billion with Russian miner Ural Mining & Metallurgical Company (UMMC/UGMK) to develop a magnetite-iron-titanium-vanadium ore deposit in Uzbekistan. This is according to the Uzbek embassy in Moscow.
The deal also includes a provision for construction of a steelworks at the site.
According to media reports, the Tebinbulak deposit in Karakalpakstan, northwest Uzbekistan, has a resource of 3.5 bill…
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Anonymous
Very good overview of the weekly steel market.
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