The oldest still running blast furnace plant in Russia was founded by Baron Stroganov in 1756 already. Production of pig iron in two blast furnaces and post production in twelve water hammers was started by his son A. Stroganov about two years later. The town of Satka was founded at the same time.

In 1860 the plant was expanded with puddling steel mill, in 1910 the very first ferro-alloy was melted in whole Russia here. During the wars (Napoleonic, 1WW and 2WW), the production was focuses on cannon balls, shells and bombs.

As a result of difficult economic situation during 1990ies the mill was iddled partialy. In 2001 the plant was taken over by Ivanov family, the entire production cycle was adapted to the current market needs and the blast furnaces with volume of 250m³ and 350m³ started with ferro-manganese production.