Novolipetsk Steel (NLMK) has announced that its subsidiary Stoilensky, the second largest producer of iron ore concentrate in Russia, has signed an agreement with Outotec, a Finnish listed technology company, selling complex mining technology and plant projects. Through the agreement, NLMK’s pelletizing capacity would be increased to 8 million tons per year.

It was also announced that NLMK planned to upgrade Stoilensky's facilities to increase 14% on its iron ore production and beneficiation capacity in order to ensure the stable supply of raw material to the pelletizer after it reached the output of 8 million tons.

These development projects were scheduled to be completed by the end of 2020, and would increase 5 million tons of iron ore processing capacity and 2.7 million tons of iron ore concentrate output for the company.