Russia: RMK Chelyabinsk results for January-September 2016

In January-September companies of the Russian Copper Company Chelaybinsk division (Mikheevsky GOK, Alexandrinskaya Mining and Ore Company, Karabashmed and Kyshtym Copper-Electrolytic Works) earned 31.25 billion rubles, with 6.25 billion rubles of net profits. In particular Mikheevsky GOK received 13.12 billion rubles with 2.97 billion rubles of net profits. Karabashmed earned 6.92 billion rubles, with net…

Russia: Olkon to increase output in 2017

Olkon (Olenegorsk Mining and Processing Works, a part of Severstal) plans to invest 250 million rubles in 2016 into the modernization of its mining machinery. In particular, the company wants to upgrade two of its dump trucks and two bulldozers. The business development projects will result in the output increase. Olkon plans to increase mining…

Russia: Seligdar output up in January-October 2016

In January-October Seligdar mined 3.745 tons of gold, up by 31.5% YoY.

In October gold output totaled 644 kg against the target of 573 kg.

The 10-months result is the highest record in the company’s 41-year history.

Seligdar occupies the 10th place among Russian gold-mining companies. (Ukrainian metal)

Russia: Severstal and NLMK challenge EU’s cold-rolled steel duties

Russian steelmakers Severstal and Novolipetsk Steel (NLMK) have sent suits to the E.U.’s General Court challenging decision of the European Commission to introduce duties on imports of cold-rolled steel products from Russia, representatives of the companies reported. In August, the E.U. introduced an anti-dumping duty on cold-rolled steel from Russia and China for five years,…