Russian mining and steel group Metalloinvest and Kosaya Gora Iron Works have signed a 3-year iron ore pellet supply contract for a total 1.9 million mt in shipments.
The pellet pricing will be fixed according to existing market benchmarks, taking into account global market price dynamics, Moscow-based Metalloinvest said in a statement Thursday.
The Mikhailovsky GOK and Lebedinsky GOK units will deliver the iron ore products, it said.
Metalloinvest is the biggest iron ore pellets producer in Russia and supplies the key raw material to steel mills in Russia, Europe and eastern Asia.
Tula-based Kosaya Gora Iron Works produces a variety of pig iron, and foundry products.
