MMK to Save Nearly RUB 1.2 Bln through Technical Innovations

In 2022, Magnitogorsk Iron and Steel Works (MMK) introduced 370 technical innovations with an expected economic impact of more than RUB 1.192 billion in savings, according to the Company’s annual public review on the implementation of advanced technologies and best industry practices.

The innovations enabled specialists at MMK’s production units to solve 10 high-priority technical tasks, including those related to increasing production efficiency and improving product quality. Another 60 innovations are currently at the technical development stage or being prepared for implementation.

Among MMK’s production units, the leader in adopting technical innovations in the first group of shops was the sinter shop at the Company’s mining and processing division, which implemented innovations with an expected economic impact of RUB 225 million in savings. It was followed by the blast furnace shop and the sinter charge preparation shop, which adopted innovations with an expected economic impact of RUB 119 million and RUB 103 million, respectively.

The leader in the second group of shops was the oxygen shop at MMK’s Chief Power Engineer Department, whose specialists implemented innovations with an expected economic benefit of approximately RUB 138 million. In second place were the logistics management group and the steam-power plant, which introduced innovations that will bring expected savings of RUB 91 million and RUB 69.5 million, respectively.

Company employees who were the most active in developing and implementing innovations received special prizes, while 33 department heads and specialists were recognised for their leadership roles in this effort. MMK’s annual review enables Company specialists to systematically study and apply the latest scientific and technological advancements, as well as identify best practices from other enterprises that can be implemented in the Company’s own production process.