Ukraine: Sukhaya Balka iron ore output down in H1 2017

Sukhaya Balka, sold in May to DCH, in January-June decreased iron ore output by 16.5% YoY, to 1.091 million tons.

In June the mine yielded 261 thousand tons of ore.

In 2016 the enterprise produced 2.654 million tons of iron ore, down by 8.8% YoY. (Ukrainian metal)

Russia: Tarynsky GOK to start operating in autumn

The first stage of Tarynsky Mining and Processing Works with the project capacity of 700 thousand tons will be put into operation this autumn.

The GOK is expected to produce 2.7 tons (87 thousand ounces) of gold per year.

The reserves of the GOK are estimated at 35 tons of gold. (Ukrainian metal)

Ukraine: pipes output up in H1 2017

In January-June Ukraine produced 500.2 thousand tons of pipes, up by 26% YoY, including 93.8 thousand tons in June. Ukrtrubprom enterprises increased output by 34.6%, to 335.4 thousand tons of pipes, with 64.4 thousand tons in June. Khazrtsyzsk Pipe Works, situated in the uncontrolled territory, produced 3.4 thousand tons of pipes (2.8 thousand tons in…

Russia: Fitch upgrades MMK to BBB-

On July 13 the rating agency Fitch Ratings upgraded the Magnitogorsk Iron and Steel Works’s Long-Term Issuer Default Rating (IDR) to ‘BBB-‘ from ‘BB+’ with Stable Outlook. In its press-release Fitch notes that the rating upgrade reflects MMK’s substantial deleveraging and Fitch’s view that the company’s financial profile will remain conservative, with projected leverage comfortably…

Russia: MMK steel output up in Q2 2017

Steel output of Russia’s Magnitogorsk Iron and Steel Works (MMK) increased by 3.8% QoQ, to 3.182 million tons in April-June, the company said in a statement July 17. In January-June, steel production rose by 0.6% YoY, to 6.248 million tons. Metal products sales fell by 3.2% YoY, to 5.605 million tons, in January-June, but increased…

Ukraine: Lvivugol expresses no-confidence to Nasalik

The employees of the state enterprise Lvivugol have expressed no-confidence to the minister of energy and coal industry Igor Nasalik. According to the Independent Miners’ Union chairman Mikhail Volynets, the decision was taken following the systematic non-payment of salary and unfulfilled promises. “As of the Miners’ Day the debts are unlikely to be cleared, thus…

Russia: TMK H1 2017 sales up

In January-June the Pipe Metal Company increased sales by 4.1% YoY, to 1.808 million tons. The increase was spurred mostly by the demand growth for seamless pipes, the company said in a statement. Seamless pipes sales increased by 16.9%, to 1.346 million tons. Welded pipes sales dropped by 21%, to 462 thousand tons due to…

Russia: Avisma to keep 2016 earnings

In 2017 VSMPO-Avisma intends to keep earnings on the previous year level – 76 billion rubles.

Sales are expected to increase by 15.8%, to 28.3 thousand tons.

The strengthening of the ruble negatively affects the ruble reports, the ruble equivalent of exports decreases, and that’s some 70% of all earnings. (Ukrainian metal)