Metalloinvest and LUKOIL sign agreement on cooperation and joint activities
Metalloinvest (“the Company”), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel and LLK-International (a 100% subsidiary of LUKOIL) have signed an agreement on future cooperation and joint activities.
The companies are expected to partner in the development, testing and use of new lubricants and other petroleum products, including biodegradable ones, which are in demand by Metalloinvest enterprises.
Maria Kovalenko, Chief Procurement Officer of Management Company Metalloinvest, said: “LLK-International’s engine oil has been used to service the main quarry equipment of Mikhailovsky GOK and Lebedinsky GOK since 2011. The high quality of this product has been proven in practice. The new agreements cover a wide range of issues aimed at optimising costs and reducing the total cost of ownership of equipment. These include joint technical audits, the development of investment programmes, including service solutions, collaboration in quality control and the testing of new products, and sharing of best practices between laboratory staff.”
Kirill Vereta, CEO of LLK-International, said: “These projects contribute to the development of new lubricants and complex industrial solutions aimed at ensuring smooth production processes. We are confident that cooperation with LUKOIL will help improve the level of support when it comes to servicing equipment in the quarry and repair zones of Metalloinvest's mining enterprises, as well as freeing up resources to address strategic tasks related to the extraction of iron ore and the production of high-quality iron ore products.”back to news list