Ural Mining and Metallurgical Company to open new steel mill

The Ural Mining and Metallurgical Company has plans to run a $675 million steel mill in Russia’s oil-rich Tyumen region in the first quarter of 2013.

The plans for the new mill were announced by Ural Mining & Metallurgical CEO Andrey Kozitsyn. The company expects the new mill to produce 540,000 metric tons of steel-product capacity per year in Tyumen, according to Bloomberg.

The Ural Mining and Metallurgical Company is based in Verkhnyaya Pyshma. It is the second largest copper producer in Russia. The holding company was formed around Oralelektromed in 1999.

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