Sukha Balka mine (Kryvyi Rih, Dnipro region), part of Aleksandr Yaroslavsky’s DCH Group, has started mining block 116-122 at the Yubileynaya mine at the minus 1420 m horizon.
According to the DCH Steel corporate newspaper, preparatory work took six months. Production is scheduled for seven months.
It is specified that the new block 116-122 from the Gnezdo deposit of the fifth floor at the minus 1420 m horizon was commissioned on July 5. The new production capacity has 277.5 thousand tons of reserves.
“When we started cutting the block, many miners were mobilized. Therefore, we had to find a labor reserve, given the complications of the energy crisis,” explained Nikolay Puntus, chief engineer of the mine, as quoted by the publication.
The average iron content in the massif is 56.83%.
“We will get rich ore over the next four months, then the percentage of iron will be lower,” Puntus said.
Sukha Balka mine is one of the leading mining companies in Ukraine. It produces iron ore by underground mining. The mine includes Yubileynaya and Frunze mines. Frunze mine. DCH Group acquired the mine from Evraz Group in May 2017.
The DCH Group, uniting assets of Ukrainian businessman Oleksandr Yaroslavsky, under a strategy of increasing effectiveness of the mining and metal business has created DCH Steel, which will manage the respective assets: Dniprovsky Metallurgical Combine (DMZ, Dnipro) and Sukha Balka ore mining enterprise (Kryvy Rih).
According to the information on the official website of DCH, the essence of the transformation is to optimally build a management system for mining and metal enterprises at the stage of implementing large-scale investment projects.
According to DCH, Yaroslavsky plans to invest from $150 million to $200 million in his mining and metallurgical business over the next five years. Owning to these investments, in particular, the blast furnace stock of coke-chemical production will be restored at the DMZ and a continuous casting machine will be built, and at Sukha Balka it is planned to organize a processing plant, to develop ore deposit at deeper levels, and to upgrade equipment.
“In the process of gradual vertical integration, the production chain ore mining-enrichment-agglomeration-smelting of iron will be formed,” the group said.
According to the press release, at the level of DCH Steel, general management functions will be centralized, and manufacturing companies will focus their efforts on production and improvement of technology. The expected results of optimizing the management of the mining and metallurgical business of the DCH are to eliminate dependence on external supplies of sinter, to ensure a positive synergy of the activities of the DMZ and the mining enterprise, which should increase competitiveness and sustainability, as well as improve financial performance.
