Magnitogorsk Iron & Steel Works (MMK) CEO Pavel Shilyaev has approved a new energy policy for the Company, the strategic goal of which is to reduce energy costs in the cash cost of MMK’s products.

To achieve this goal, the Company will improve its system for monitoring the use of energy resources, increase the efficiency of energy consumption at each workplace, work as fully and effectively as possible with secondary energy resources, and implement a number of further measures. The new policy also provides for the improvement of internal regulatory documentation, in line with changes in energy consumption legislation. Continuous improvement of the level of knowledge and competence among employees concerning energy saving matters will become the basis for making effective decisions when upgrading the key technological and energy equipment. The equipment will be fully certified for compliance with energy consumption standards. Every MMK employee must strive to reduce energy costs at their workplace in order to achieve the successful implementation of the Company's new policy.

In 2019, thanks to the implementation of measures to improve energy efficiency, MMK achieved an economic impact of around RUB 500 million.