Russia: RUSAL suggests supporting industrial power consumers

Vladislav Solovyov, CEO of UC RUSAL, has suggested Economic Development Minister Maxim Oreshkin study a support program for large industrial power consumers that will stimulate industrial production and boost the gross domestic product (GDP). According to Solovyov’s calculations, industrial consumers pay for excessive power generation, grid capacities, and many types of cross-subsidization with the payments…

Russia: Vysochaishiy distributes 2016 profits

The management of the Vysochaishiy public joint-stock company has decided to distribute 6.378 billion rubles of net profit for 2016. 2.308 billion rubles will be sent to the development fund, of them 1.63 billion – for construction, 108.333 million rubles – for prospecting, and 1.793 billion – to cover losses of the previous years. 46.8…

Ukraine: Ogneupornerud fires CEO

The supervisory board of Ogneupornerud, controlled by the System Capital Management through its daughter company UMG, has fired the company director Evgeny Tsimarman. The decision on resignation was taken on June 26. Tsimarman’s office expired on June 30. The vacant position of the CEO has been taken by the chief engineer of Druzhkovka Mine Group,…