Magnitogorsk Iron and Steel Works
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Native name
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ОАО Магнитогорский металлургический комбинат |
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| Public () | |
| Traded as | MCX: MAGN |
| Industry | Steel |
| Headquarters | Magnitogorsk, Russia |
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Key people
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Pavel Vladimirovich Shilyaev(Chairman) |
| Products |
Steel Steel products |
| Revenue |
 US$5.44 billion(2015)
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 US$420.0 million (2015)
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| Website | www.mmk.ru |
Magnitogorsk Iron and Steel Works (Russian: Магнитогорский металлургический комбинат, Magnitogorskiy Metallurgicheskiy Kombinat), abbreviated as MMK, is the third largest steel company in Russia. It is located in the city of Magnitogorsk, in Chelyabinsk Oblast.
Located in the mineral rich Ural region that demarcates the separation between Europe and Asia, significant mining in Magnitogorsk dates back to 1752. The effort to explore the Magnitnaya Mountain region for potential iron ores was undertaken by two investors named Myasnikov and Tverdysh who petitioned for the first rights to begin extraction of the metals. Following the granting of their petition by the Orenburg government, mining operations were soon initiated in 1759.
Historically, the center of Russian iron production had been focused in the Tula region. However, in the beginning decades of the 18th century, a shift towards developing the industrial capabilities of the Ural took place that more than doubled Russia’s iron production. In 1828, a series of geological surveys began in an effort to determine the mineral make up of the Magnitnaya Mountain and create estimates for the possible amount of iron contained within the mountain. By the later part of the 19th century, the small town had begun to grow with more than 10,000 residents reported. During this time, between 30,000 and 50,000 tons of raw iron was being extracted there annually.
In the 1870s, the vast majority of the iron ore, steel, and pig iron were being produced in Ukraine. Comparatively, Ukraine with its large deposits and developed industry, was responsible for 75% of the iron ore in 1913 to the Ural’s 21%. Ukraine remained the focal point of metal production while the competing regions found themselves relegated to significantly reduced importance. It was only following the Bolshevik Revolution in 1917 that the drive to push for an expanded iron and steel industry began to come to the forefront.
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Wikipedia