USM invests in the metals and mining industry through Metalloinvest, a major global producer and supplier of iron ore and steel products and a wholly-owned subsidiary of the group.


    Metalloinvest is at the forefront of the global metals and mining industry and holds the second-largest iron ore reserve base in the world, amounting to c. 14.4 billion tonnes. It is the merchant hot briquetted iron (HBI) market leader and the third-biggest manufacturer of pellets globally. Metalloinvest is Russia’s number one iron ore company. Its main production assets are located in the European part of the country and the Urals.

    Metalloinvest operates two integrated divisions. The mining segment comprises Lebedinsky GOK and Mikhailovsky GOK, and the steel segment incorporates OEMK, Ural Steel and Ural Scrap Company:

  • • Lebedinsky GOK is the largest plant for the mining and beneficiation of iron ore in Russia, producing high-quality iron ore and raw materials. It is the country’s only HBI manufacturer, and is currently constructing a new facility with an annual capacity of 1.8 million tonnes, which will make it the largest HBI facility in the world.

    • OEMK is one of the most modern fully integrated steel mills in Russia. It employs advanced technology for the direct reduction of iron and electric arc furnace smelting. The unique properties of OEMK’s steel have ensured stable demand in the local market and worldwide.

  • • Ural Steel is a fully-integrated iron and steel works, including coke blast furnace, steelmaking and rolling manufacture. The majority of its output consists of merchant pig iron, pipe billets and strips, as well as bridge construction steel and heavy plates. The plant is a leader in niche product markets.

  • • Ural Scrap Company purchases, processes and delivers ferrous scrap to Metalloinvest’s steel segment enterprises.

  • Metalloinvest owns a stake in Norilsk Nickel, the world’s largest producer of nickel, which also mines palladium, platinum and copper. The company is the major shareholder in Canada’s Nautilus Minerals, a business that specialises in commercial seafloor exploration, searching for substantial sulphide deposits, which are a potential source of copper, gold, zinc and silver ore with high metal content. It is developing the world’s first seafloor copper-gold project in the territorial waters of Papua New Guinea.

  • Metalloinvest fully owns Baikal Mining Company, which holds the largest copper reserves in Russia. It develops the Udokan copper deposit, one of the world’s biggest undeveloped sites, with reserves of c. 26.7 million tonnes.

  • Metalloinvest is wholly owned by USM.