The two miners of Korea and Russia teamed up to develop Agaskyr molybdenum

The leader of Russian energy En + group announced that they have signed a memorandum of understanding with the south Korean industry and steel producers who the group (SeAH).The two sides will hand in hand to develop Agaskyr molybdenum deposits in eastern Siberia, Russia.

According to the mou, En + group,which is a wholly owned subsidiary and the Russia’s largest producer of molybdenum steel SMR company will with the group subsidiaries, South Korea’s largest producer of molybdenum alloy SeAHM&S company cooperation.The SMR has the feasibility study of Agaskyr molybdenum ore deposit and bank financing. According to the research results, the two sides will consider long-term cooperation of other possibilities.

ArtemVolynets,who is the En + group chief executive, said the cooperation with the inferior group is very important to the development of Agaskyr deposits, and it is a important milestone for En + group cooperation with South Korea’s.He believe that Russia’s eastern Siberia rich resources and advantageous geographical location provides a unique advantage for En + group to meet the growing demand of South Korea and other Asian countries .

Data shows,the headquarters of En + group is located in Russia.It is a diversified mining and metals and energy group,which holds the world’s largest aluminium company controlling stake in Russian aluminum joint company and Russia’s largest independent power suppliers Russian energy group co., LTD. 100% stake, as well as 100% stake in the company of the world’s leading supplier of molybdenum steel SMR.The group’s business covers iron and steel production, mining investment and information technology, such as, the iron and steel company is South Korea’s largest producer of special steel.


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