Mednogorsk Copper-Sulfur Works, a part of UMMC, estimates its gold reserves at the Yelanskoye deposits in Voronezh region at 7.2 tons. Moreover, the deposits also hide 502.3 thousand tons of nickel, 58 thousand tons of copper, 15.3 thousand tons of cobalt, 2.9 tons of platinum and 3 tons of palladium. MMSK received the license to…
Russia’s state-owned Vnesheconombank (VEB) plans to approve restructuring of a $167 million metals and mining group Mechel’s debt until the end of this month, CEO Sergei Gorkov said on July 10. “We believe that it (restructuring) will be probably approved by the end of the month,” he said. The company said earlier it had agreed…
The decree on the prolongation of the ferrous scrap export duty on 30 euro per ton for 2 years cannot be vetoed by the president of Ukraine, the member of the parliament, the chairman of the parliament committee on industrial policy and entrepreneurship Victor Galasyuk believes. “The term to sign or veto the decree given…
According to the railroad statistics, in June direct deliveries of ferrous metals to major ship-building and repair companies totaled 7.8 thousand tons, down by 35.5% MoM and by 56% YoY. In May the results were down by 15.5% MoM, but up by 2.2% YoY. In January-June Russian ship-building and repair companies received 66.6 thousand tons…
Asha Iron and Steel Works is assembling a new electric muffle furnace at its sheet-rolling shop No. 3. When the furnace is put into operation, the cycle of thermo-chemical processing of heat- and corrosion-resistant steel and alloys will be complete. The smelting chamber of the furnace has the width 750 mm, thrice that of the…
The Russian Copper Company intends to continue developing its metal manufacturing capacities. In particular, the group wants to increase output at Kyshtym Electrolysis Copper Plant. The group has found a way to increase copper cathodes and copper rolled wire output at KMEZ to 0.14 million tons per year each. The investment program will be carried…
ChTPZ Group and Siemens have concluded an agreement on strategic partnership for 5 years. The document has been signed by ChTPZ pipe division CEO Alexander Grubman and Siemens president Dietrich Moeller. The agreement presupposes joint realization of projects of industrial automatization and implementation of complex energy efficient solutions at ChTPZ. One of the main issues…
Evraz NTMK has signed an agreement on cooperation with Nippon Steel (Japan) and Mashprom. The document presupposes development of by-product coke manufacture at the Nizhniy Tagil works. The agreement has been signed by Evraz NTMK and Evraz KGOK managing director Alexei Kushnarev, Mashprom managing director Alexander Kotelnikov and Nippon Steel European representative office in Dusseldorf…