Ural Mining to Start Up $675 Million Russian Steel Mill in 2013

Ural Mining & Metallurgical Co. plans to start up a 22 billion-ruble ($675 million) steel mill in Russia’s oil-rich Tyumen region in the first quarter of 2013, Chief Executive Officer Andrey Kozitsyn said.

Russia’s largest copper producer, controlled by billionaire Iskandar Makhmudov, plans 545,000 metric tons of steel-product capacity a year in Tyumen, the company said in a statement.

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