Hares Yussef is interested in completion of KGOKOR

During the meeting with the President of Ukraine Victor Yushenko on 12 November the leadership of Kobe Steel (Japan) and Austria-Ukrainian Company Hares Group showed its willingness to participate in investment to complete Kryvyi Rig mining and processing plant of oxidized ores (KGOKOR, Kryvyi Rig region).

Experts of the companies have informed President of Ukraine about Japanese technology called “direct reduction of iron” – Itmk3, developed by Kobe Steel and is being implemented at enterprises in USA, India, Australia, Canada.

As was said by Hares Group, being a licensee of ITmk3® at the territory of CIS countries, the peculiarity of this technology is that its final product is not a metallurgical raw material (pellets), being used in blast furnaces, but already granulated pig iron (metallized iron with carbon additives) suitable for the use in steelmaking units.

“The main advantage of ITmk3 technology lies in the possibility of “direct reduction” of not only concentrates, rich with iron, but also relatively low-quality raw materials, particularly the concentrates received from oxidized ores. In this respect ITmk3 technology can be effectively implemented at KGOKOR”, stated in press-release.

According to Hares Group, “President of Ukraine confirmed unconditional interest of Ukraine in completion of KGOKOR with implementation of effective technology of competitive products production of high processing degree”.

As it is stated in press-release, President suggested the representatives of Kobe Steel and Hares Group to present relative proposals to the working group on completion of KGOKOR.

Hares Group works in Ukraine since 1992 in different spheres, including steel manufacturing and trading, development of real-estate market, industrial engineering, oil and gas production.

Operation in steel making sector is performed through Hares Group Holdings GmbH (Austria) and in oil and gas area – through Hares Group Limited.

Hares Group Holdings GmbH is found in 1994. Businessman Hares Yussef is directing the holding. In the beginning of October Hares Yussef was appointed as an outside adviser to the President of Ukraine.