Stoilensky GOK Iron-Ore Operation Stands in Belgorod Region

Stoilensky GOK Iron-Ore Operation Stands in Belgorod Region

NLMK via Bloomberg

NLMK, as the company’s known, spent $8.9 billion on expansion from 2008 through 2013 to take 21 percent of the Russian market. It was helped by low costs, with its Stoilensky GOK iron-ore operation one of Russia’s largest open-pit mines and one of the world’s cheapest producers at $23 a ton.