Russia: Fitch revises MMK’s outlook to positive

Magnitogorsk Iron & Steel Works (MMK) is pleased to announce that on May 23, the rating agency Fitch Ratings revised the outlook on its long-term issuer default rating (IDR) to positive from stable and affirmed the IDR at ‘BB+’. In its press-release Fitch notes that the positive outlook reflects MMK’s strong financial performance which allowed…

Ukraine: Severstal-Metiz CEO becomes Dneprometiz chairman

Supervisory board of Dneprometiz has appointed Anatoly Frishman, CEO of Severstal-Metiz (Russia), its chairman.

Frishman has been appointed until the next annual meeting of the shareholders.

Chief accountant deputy of the company Lilia Dubovichenko has been appointed chairman of the revision committee. (Ukrainian metal)

Russia: Kola abandons outdated raw material preparation technology

Kola (subsidiary of Norilsk Nickel) has decommissioned the pelletizing and roasting sector (PRS), in effect abandoning the obsolete technology used since 1960s and shifting to copper-nickel concentrate briquetting. Kola completed this work in line with Metallurgical production facilities revamping program, specifically to improve the company’s environmental performance. The shutdown of the roasting area required major…