Since the creation of Ural Mining and Metallurgical Company (UMMC), its management has worked tirelessly to craft strategies for optimizing its operations. Every strategy is used to unlock the potential of the business and sustain its competitiveness as a global player in the coal and non-ferrous metals niche. To achieve this, the most notable consideration is UMMC’s commitment to progressive industrial diversification. Here are some of them:
Diversifying UMMC Industrial Products
While the main focus of UMMC is non-ferrous metals such as copper and zinc, the company has diversified its operations that allow it to also produce other metals. These include lead, selenium, cadmium, indium, and aluminum. This is not all. The company also produces precious metals including gold and silver. This model ensures that UMMC maintains a huge client base in Russia the entire globe.
Running Multiple Industrial Units
UMMC operations are pegged on the fact that running a mining system is a complex undertaking that requires a holistic approach. Instead of running one or two industrial units, UMMC operates over 40 companies spread in the different Urals such as Orenburg and Sverdlovsk. The aim is to ensure that processing takes place near the mining sites as a method of cutting costs. This has been very crucial to ensuring the company gets support from the local communities by employing locals and supporting their projects.
Targeting Diverse Industries
As UMMC works towards diversifying its operations, the management holds the view that winning a bigger market share is not enough. Therefore, it went a step further to target multiple industries across the globe. This is why the company’s product and operations are designed to support the mining industry, cable industry, construction, electronics, and precious metals. This model has helped UMMC to maintain high sales and profits.
Diversifying Production Process
UMMC has stood from its peers for commitment to innovative production. In line with its mission, UMMC works with researchers to progressively improve its mining methods to cut costs and improve efficiency. In addition to the open cast and underground mining methods, UMMC generates precious metals such as gold and silver as products of non-ferrous metals products. This is one of the reasons why the company is able to sell precious metals at a more affordable rate compared to competitors.
For UMMC, diversifying operations part of its holistic culture. The management has demonstrated that this focus can help to enhance efficiency, increase productivity and maintain a competitive edge against competitors.