A first consignment of iron ore supplies from Kazakhstan’s Sokolov-Sarbai Mining and Processing Plant, part of Eurasian Resources Group (ERG), was reportedly dispatched on February 23 to Russia’s Magnitogorsk Iron and Steel Works (MMK) following a four-year suspension on deliveries, the TradingSharks Telegram channel reported on February 25.

Shipments in February would total roughly 60,000-70,000 tonnes, rising to around 300,000 tonnes/month from March, with scope for further increases thereafter, the channel’s report added.

The shipment was reportedly dispatched to MMK after it was loaded at Zhelezorudnaya rail terminal in Gornyak, East Kazakhstan Region.

Prior to sanctions imposed on MMK in August 2022, ERG was a key supplier to the Russian market, delivering about 7mn tonnes of iron ore annually to the steel works.

ERG has previously rejected suggestions that it intended to resume supplies to Russia.

“ERG and all companies within the group fully comply with all applicable international sanctions regimes, including those administered by the US Treasury Department’s Office of Foreign Assets Control (OFAC),” the group’s headquarters told Forbes Kazakhstan on January 27.

The company added that neither ERG nor its subsidiary, Sokolov-Sarybai Mining Production Association (SSGPO), has contractual ties with MMK. “The company does not plan to resume iron ore supplies to MMK and is not engaged in such discussions,” ERG said.

It described reports circulating in certain media outlets and on social networks about a potential restart of deliveries as inaccurate.