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Russia: Severstal net profit down in Q1 2019

In January-March, Severstal net profit decreased by 7.2% YoY, to $428 million.

EBITDA dropped by 6.1%, to $663 million.

Compared with Q4 2018, net profit fell by 26%, and EBITDA – by 16.5%.

The group net debt as of March 31, decreased by 30%, to $863 million. (Ukrainian metal)

Kyrgyzstan: 15,000 people sign petition against uranium mining in Issyk-Kul

At least 15,004 people have signed the petition against the project on development of uranium deposit in Issyk-Kul region. Collection of signatures continues. Last weekend, social networks’ users began collecting signatures against the project on development of Tash-Bulak uranium deposit. The author of the petition was Alena Khomenko. She invited everyone to sign the online…

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Kyrgyzstan: Prime Minister instructs to suspend uranium mining in Issyk-Kul

Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev instructed to suspend work at the uranium deposit in Kyzyl-Ompol area, the Information Policy Department of the Government’s Executive Office reported. The head of the Cabinet held a meeting on the activities of YurAsia company in Kyrgyzstan. An interdepartmental working group was formed on December 31, 2018. Its participants…

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Russia: Rusolovo to increase Solnechnaya factory capacity

In 2020 Rusolovo intends to complete the modernization of the Solnechnaya factory at the Festivalnoye deposit in Khabarovsk region.

Investments will reach 1.4 billion rubles.

After modernization the factory will be producing 1.2 thousand tons of tin concentrate per year. (Ukrainian metal)

Russia: Severstal-Balakovo finishes electric steel shop repair

Severstal – Bar Works Balakovo has finished scheduled capital repairs of the main and auxiliary machinery.

The cost of the repair exceeded 40 million rubles.

The repair covered machinery in the electric steel smelting shop. (Ukrainian metal)

Russia: OMK starts building pipe facility at Vyksa Works

Russia’s United Metallurgical Company (OMK) has launched construction of a 50-billion ruble seamless pipes facility at its subsidiary Vyksa Iron and Steel Works. “The goal of the project is to satisfy current and future demand in line and threaded seamless pipes, including pipelines for difficult production conditions and directional drilling by oil and gas companies…

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