Russia: Fitch upgrades Nordgold’s rating outlook to Positive from Stable

Global rating agency Fitch has revised the outlook for the ratings of gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, to Positive from Stable, the agency said in a release. The company’s long-term issuer’s default rating has been affirmed at “BB-“. “The affirmation of the company’s ratings reflects operational and financial results in…

Russia: RMK to buy half of ChUK

The Federal Antimonopoly Service has allowed the Tominsky Mining and Processing Works (a part of the Russian Copper Company) to buy a 50% stake in Chelyabinsk Coal Company. In October 2016 the press-service of the Chelabinsk region governor reported RMK planned to acquire shares of ChUK to recultivate Korkinsky coal pit. RMK needed the deal…

Russia: DIA starts making new products

The manufacturing company DIA has started making new products – oval-section pipes.

The flat half-ovals are in demand by furniture manufacturers.

The company specialists have developed the necessary rolling tools for the production of the new pipe. (Ukrainian metal)

Ukraine: DTEK coal mining on occupied territories stopped

Coal mining companies of DTEK, situated on the temporarily occupied territories of Donetsk and Lugansk regions, have suspended mining coal. “Komsomolets Donbassa mine, DTEK Sverdlovantrazit and DTEK Rovenkiantrazit have stopped mining coal”, the group press service reported. On February 13, the railroad connection through the demarcation zone was completely stopped, resulting in the coal mined…

Ukraine increases coal stocks

Coal stocks at the warehouses of the thermal power plants on March 6-9, increased by 2.1%, or by 36 thousand tons, to 1.734 million tons. According to the Ministry of energy and coal industry as of early March 9, coal stocks of the anthracite group totaled 711.4 thousand tons, down by 4.7% as of March…

Russia: ChTPZ to increase CPP output

The ChTPZ Group intends to increase compressor-pump pipes with externally upset ends output from 18 to 35 thousand tons per year. The increase of capacities has been made possible thanks to the modernization program at the Pervouralsk Pipe Plant. The modernization saw the replacement of parts at pipe cutting-mills, etc. The Pervouralsk Plant produces CPP…