OMZ-Spetsstal has produced the largest forging ingot in the company history – weighing 443 tons. The ingot will be used to produce a heavy supporting roll for the 5000 mill of the Cherepovets Iron and Steel Works. The size of the future product: diameter – 2.36 meters, length – 12 meters. The total weight of…
The increase of railroad tariffs this year by 25%, planned by Ukrzaliznytsia, is inadmissible, the Pobuzhye Ferronickel Plant CEO Oleg Bespalov believes. “They come and say that they need to increase tariffs to buy wagons, as they have no money”, he said. According to Bespalov, this has been heard before, but the situation with the…
In 2016 Ferrexpo received $189.2 million of net profits, up 6-fold YoY, with revenue up by 2.6%, to $986.33 million. According to the company statement, its EBITDA increased by 20%, to $375 million. At the same time its net debt decreased by 32% YoY, to $589 million. Capital investments last year dropped by 25%, to…
Ukrainian companies in January imported coking coal for CAD 48.2 million ($36.2 million under the current exchange rate) from Canada, while in January 2016 no coking coal was imported, Canadian Ambassador to Ukraine Roman Waschuk reported. He said that British Columbia had large stocks of coking coal and production facilities. Supplies from the province could…
The privatization of the Chervonogradskaya central processing factory has been named illegal, and the Lviv regional commercial court of appeals returned its assets to the state ownership. After the privatization in 2008 and the creation of the Lviv Coal Company the state controlled 37.58% of shares in the new company, with 62% controlled by the…
Metinvest plans to finish restructuring debt on eurobonds and pre-export financing (PXF) and issue just over $1.971 billion in new bonds on March 22, the Ukrainian mining and metallurgical holding said in a statement filed with the Irish Stock Exchange. The holding will also complete the formalities for a new PXF facility worth $1.109 billion.…
On March 20, a working group on the liberalization of the coal market in Ukraine was created to fulfill an order issued by the Prime Minister of Ukraine Volodymyr Groysman. Vice Prime Minister Volodymyr Kistion was appointed head of the group, reads a report on the government’s website. “On March 9, under the chairmanship of…
Russian gold producer Polyus will sell an 82.34% stake in the Nezhdaninskoye gold deposit for $158 million to a company beneficially controlled by Ivan Kulakov, a former managing director of Highland Gold Mining, Polyus said in a statement on March 21. The payment will consist of two tranches: $100 million will be paid upon completion…