In Q1 Metinvest doubled its investments into capital construction YoY, to $103 million. The mining segment accounted for 71% of investments (46% in Q1 2016), while metal segment –28% (52%). The main investments at Mariupol Ilyich Iron and Steel Works include the construction of the continuous casting machine No. 4 and the reconstruction of the…
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…
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…
This year Stangold LLC is working under one license only and washes for the alluvial gold at the Sirik creek valley. So far the company has obtained only 22 kg of gold, down by 2 kg YoY. The target for this year is 50 kg of gold. But the company expects to get up to…
In January-June Uglegorskugol LLC mined 17.733 thousand tons of coal at its Central site of the Solntsevskoye deposits. In H1 2016 the company mined 148.664 thousand tons of coal, with 337.473 thousand tons mined in the whole 2016. The decrease of the output is connected with the thinning of the licensed sites. The company has…
Beloretsk Iron and Steel Works has passed the audit of rebars wire and threads for the correspondence of the Slovakian norms of construction products. The certificate will allow the company to increase product range supplied to Slovakia and the number of customers. In particular, the rebars wire with 5 mm diameter and rebars 7-wire threads…
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,…
An accident happened at the seized Donetsk Iron and Steel Works. The pig iron has destroyed the tap hole and spilled on the rails in the foundry shop. There were no casualties. The tap mass, used to cover the hole after pig iron manufacture, each two hours, has not been supplied to the works since…
