METALLOINVEST signs social partnership programme for 2013 with Belgorod region administration

METALLOINVEST (the “Company”), a leading global iron ore and HBI producer based in Russia, has signed a social partnership programme for 2013 with the Belgorod region. The programme is an extension of the long-term Social and Economic Partnership Agreement signed in 2011 by the government of the Belgorod region and the town administrations of Stary Oskol and Gubkin. As was the case last year, the document was signed by Eduard Potapov, CEO of Management Company METALLOINVEST, and Yevgeny Savchenko, Governor of the Belgorod region.

The partnership agreement enables the parties involved to consolidate their administrative, financial, intellectual and other resources to develop the region and towns where the Company’s businesses – Lebedinsky GOK and OEMK – operate. METALLOINVEST’s total contribution to the social investments in 2013 is expected to amount to more than RUB 260 million.

The Company’s total investment in such projects in 2012 reached RUB 240 million, excluding the financial support for Belogorie volleyball club, a leading regional sports club. The Company will continue to support the club in 2013 outside the agreement.

The priority areas of the social investments this year are culture, children’s creativity and education. The Company will continue to implement programmes, such as “METALLOINVEST’s School of Communal Good” and “Healthy Child”, in collaboration with the towns’ administrations for the benefit of young people.

Yevgeny Savchenko, Governor of the Belgorod region, commented: “It is important for us that the cooperation between the Belgorod region and METALLOINVEST will continue. The signing of the programme today highlights the trust we have in the Company. All terms of the previous agreements were fulfilled, and we are confident in the continued successful collaboration.”

Eduard Potapov added: “Two years of mutually beneficial partnership are confirmation that the Company followed the right course in trying to address the development challenges of these areas. The partnership implies the mutual responsibility, interests, and joint efforts aimed at achieving common goals. Today, we can see the concrete results of our collaboration.”