Russia: Mechel intends to hold bonds restructuring

Mechel, one of Russia’s leading mining and steel companies, reports its intention to restructure 17, 18 and 19 series of bonds. The company intends to offer holders of 17-series bonds (State registration number 4-17-55005-E dated 10.08.2010), 18-series bonds (state registration number 4-18-55005-E dated 10.08.2010) and 19-series bonds  (state registration number 4-19-55005-E dated 10.08.2010) to introduce…

Ukraine: miners not paid wages in full

In March salary debts to miners were 70-75% cleared. Salary debts have been partially cleared at Selidovugol and Volynugol. Lvivugol received 17.2 million UAH from the state and decided to spend 10 million UAH from coal sales to pay salary, so, it was able to clear 88% of the debt. Krasnoarmeyskugol miners still haven’t received…

Ukraine: coal output up in January-April 2016

In January-April Ukraine mined 13.51 million tons of power-generating and coking coal, up by 9% YoY. According to the Ministry of energy and coal industry, state mines yielded 2.1 million tons, or 15.6% of the total volume. State mines output fall reached 6.8%. In April Ukraine mined 3.48 million tons of coal, with 501.4 thousand…