NLMK stops iron ore concentrate output due to accident; pig iron, steel output at risk

Novolipietsk Steel (NLMK), the largest steel producer in Russia, has stopped iron ore concentrate output at its Stoilensky mining and processing plant due to an accident, which occurred on September 7, Fastmarkets understands.

NLMK receives all its required iron ore concentrate from the asset, which is why both its pig iron and steel production are under threat, sources told Fastmarkets.
"On September 7, a conveyor gallery, which transports ore for further crushing, collapsed at the Stoilensky asset," the company told Fastmarkets. "The production of related products [which Fastmarkets understands to be iron ore concentrate] is temporarily stopped while quarry mining continues."

A...

Another 'Bubble Check' for the gold sector

Gold stocks continue to hit new highs

Some mining stocks exposed to Burkina Faso take major hit

Gold stocks again hit new highs

Gold stocks reach new highs on metal price gain