USM is an active investor in the metals and mining industry. The holding company owns Metalloinvest, a leading global iron ore and hot briquetted iron (HBI) producer and supplier, as well as Udokan Copper, which controls the biggest copper reserves in Russia, and Akkermann Cement, one of the largest cement producers in Russia.
  • Metalloinvest is a leading metals and mining company in Russia and the CIS, and owns the world’s largest iron ore reserve base. At the end of 2021, Metalloinvest received a new reserve estimate according to JORC international standards, placing its recoverable iron ore reserves at 15.4 billion tonnes, the largest reserve volume in the world. The company is the HBI market leader and the second-largest manufacturer of pellets globally and is one of the top regional producers of high-quality steel. Its main production assets are located in the European part of Russia.
  • Metalloinvest operates two integrated operational segments. The mining segment comprises Lebedinsky GOK and Mikhailovsky GOK, and the steel segment incorporates OEMK, and Ural Scrap Company.
  • Lebedinsky GOK is the largest Russian iron ore mining and beneficiation enterprise. It is the only HBI manufacturer in Russia and Europe. Following the launch of its third HBI production facility in 2017 with a design capacity of 1.8 million tonnes per year, Metalloinvest can now produce up to 4.7 million tonnes of HBI annually, which puts the company’s share in the global HBI market at around 50%.
  • Mikhailovsky GOK is focused on the open-pit mining of the world’s largest proven iron ore reserves at the Mikhailovsky deposit of the Kursk Magnetic Anomaly. The plant’s main commercial products are iron ore concentrate and pellets. One of the most significant milestones in Mikhailovsky GOK’s history was the launch of Pellet Plant #3 in 2015, with a production capacity of 5 million tonnes of pellets per year.
  • 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 production have ensured stable demand domestically and worldwide.
  • Ural Scrap Company purchases, processes and delivers ferrous scrap to Metalloinvest's steel segment enterprises.
  • Udokan Copper was established in 2008 to develop the Udokan copper deposit, located in the Kalar District of Russia's Transbaikal region, 30 km from Novaya Chara station of the Baikal-Amur railway. With resources of over 26 million tonnes of copper, Udokan is the third largest undeveloped deposit in the world and the biggest in Russia.
  • In 2014 the company carried out an international feasibility study for the Udokan development project, while two years later, the Federal Agency for Subsoil confirmed the copper reserves and associated components of the deposit. At the end of 2018, Udokan Copper received a positive result from the state examination of the first stage of the project of the Udokan Mining and Metallurgical Plant, and immediately began the construction of a technological complex and necessary infrastructure. In 2023, the company plans to commission Phase I of the plant with up to 15 million tonnes of capacity per year and produce cathode copper and sulphide concentrate. The mine’s expected extraction period is 50-60 years.
  • In September 2019, Udokan Copper commenced operations in the Zabaikalye territory of advanced development, which provided additional growth incentives for the entire region through the reconstruction of the airport in the village of Chara, the formation of a logistics centre at the railway station and the construction of energy and civil infrastructure. The project is connected to major ports and transport hubs in the country's Far East by the Baikal-Amur Railway, benefitting from geographic proximity to key copper consumers in China, Japan and South Korea.
  • The development of the Udokan deposit is part of the Russian Metallurgical Industry Development Strategy until 2020 and is part of the Social and Economic Development Strategy for the Far East and Baikal Region until 2025. It is estimated that the project will create up to 2,500 jobs at the enterprise itself, as well as up to 20,000 positions in related sectors. The activities of the Udokan Mining and Metallurgical Plant will guarantee a contribution of up to 10% to the gross regional product of the Zabaikalye Region. The Udokan Mining and Metallurgical Plant will become the only fully-integrated copper ore hydrometallurgical processing enterprise in Russia.
  • Аkkermаnn Cement is among the largest cement producers in Russia and the CIS, with a total production capacity of 7.0 million tonnes of cement per year. The company is also engaged in the processing of metallurgical slag. Starting in 2020, the company processes 6 million tonnes of slag per year. In 2021, Аkkermаnn Cement sold 6.0 million tonnes of cement.
  • Аkkermаnn Cement operates in Russia as well as abroad, and is among the top 5 largest companies in the Russian cement market. In Uzbekistan, the company owns OHANGARONSEMENT. In late 2021, the enterprise commissioned a new state-of-the-art cement production line with a capacity of 2.5 million tonnes per year, which uses the dry process.