The minister of energy and coal industry Igor Nasalik declared that the state enterprise “State Coal Company” came to terms with Ukrgazbank to attract a loan of 300 million UAH into coalmine modernization. The State Coal Company was created in September 2014 to sell coal of state miners. The 2017 state budget will provide 870…
Gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, has postponed delisting from the London Stock Exchange (LSE) to March 16, from Thursday to synchronize the delisting with closing of a buyback offering, the company said in a statement. Nordgold may acquire global depositary receipts (GDRs) from minority shareholders for $118 million, or $3.45…
At present Azovstal Iron and Steel Works is operating at 50-55% capacity, but it could drop to 40% in case the railroad blockade is not stopped. According to the company CEO Enver Tskitishvili, the works is not receiving coking coals of the necessary quality, while coke from Russia is expensive – $360 per ton. “Altaikoks…
Central Mining and Processing Works, a part of Metinvest, plans to start supplying pellets to the Western Europe and Japan. “Having completed the second stage of the pelletizing factory modernization we can now produce such pellets that will be in demand on every market, including in Western Europe and Japan,” the company CEO Dmitry Shevchik…
The Ministry of energy and coal industry has not included anthracite coal into the forecast structure of TPPs fuel for March. The ministry expects anthracite deliveries only to Lugansk TPP. In particular DTEK will supply 100 thousand tons of anthracite. In March TPPs on controlled territory are expected to consume 403.1 thousand tons of anthracite.…
Investments into the project of oxidized quartzite processing at Mikhailovsky Mining and Processing Works in Kursk region could reach 65 billion rubles, according to the regional governor Alexander Mikhailov. The project is expected to be realized by 2019. Mikhailovsky GOK is the largest iron ore mining and processing enterprise in Russia with reserves of 10.3…
Gold output in Russia has been growing for 7 years in a row. In 2016 it increased by 1.2% YoY, to 297.4 tons. This year it is planned to mine 304-405 tons. Several regions provided for the growth of the output: Krasnoyarsk Krai increased gold production by 5%, to 52 tons, Magadan region – by…
Olcha gold-silver deposits have supplied the first batch of ore to processing works. All the roads were constructed last year. “This is a very ambitious project. And the implementation of new projects in precious metals mining confirms the fact that Magadan region is firmly moving forward, increasing gold and silver output from year to year”,…