MMK took part in the auction for the rights of mining iron ore at the Prioskolsky Iron Ore Deposit in the Belgorod Region, Russia.

The rights were awarded to MMK at the highest bidding price of RUR 630 million. Under the terms of the auction, within 30 days of the auction date the Federal Agency for Mineral Resources Management must approve the decision of the auction committee on the results of the auction, following which the relevant license will be issued to the winner.

MMK's participation in the auction is part of the corporate strategy aimed at maintaining the Company's competitiveness in the long term. One of the key objectives in this respect is to ensure uninterrupted supply of raw materials of the required quantity and quality. The Prioskolsky project will facilitate the solution of this task in the long term.