In January-June Rusal placed eurobonds valued at $600 million with the 5-year maturity rate and the interest of 5.125%, as well as panda-bonds for 1 billion yuan ($150 million) for 2+1 years with 5.5%. The group has also placed $500 million worth of eurobonds for 6 years with 5.3% interest. Rusal has signed a new…
In January-June Rusal increased earnings by 22.3% YoY, to $4.674 billion, mostly because of the LME aluminum price increase and the company sales growth by 3.8%. Earnings in Q2 went up by 7.4% QoQ, to $2,467 billion. The share of the high added value products increased to 49.2% from 44.3%. Corrected EBITDA in Q2 grew…
In January-July Chepets Mechanical Works received 1.134 billion rubles of net profits, up by 12% YoY, with earnings up by 3%, to 6.686 billion rubles. The works has signed a contract with Hermit GmbH for the delivery of titanium products to Europe. In 5 years the company will supply over 1 thousand tons of titanium…
In July Russia shipped 9.2 million tons of iron ore, up by 2.2% YoY, with 63.8 million tons shipped in 7 months, down by 0.2% YoY. Local sales increased by 2%, while exports dropped by 2%. Ukraine and Hungary stopped importing iron ore altogether, while Slovakia, Finland and Germany decreased imports by 70%, 2-fold and…
Norilsk Nickel, one of the largest refined nickel and palladium producer in the world, reports that on August 24 its Board of Directors considered to call an Extraordinary General Meeting of shareholders (EGM) on September 29 and set the EGM record date (the list of shareholders eligible to vote) on September 5. The Board of…
Gold production in the Chukotka Autonomous District is to decrease by 3 tons in 2017 due to reserve depletion on some of the deposits, head of the region Roman Kopin reported on August 24. “The amount expected in 2017 is 26 tons,” Kopin said. Chukotka Mining and Geological Company and Severnoye Zoloto, units of Kinross…
The net loss of Russian gold producer Lenzoloto tripled to 1.072 billion rubles in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on August 24. The pre-tax loss also tripled to 1.091 billion rubles, income from sales fell by 17.5%, to 2.396 billion rubles, including income from gold…
The Russian Railroads decided to change the level of the railroad tariff for export transportation of aluminum and aluminum wire rod. The new decreased tariff will be 0.867 from the current. The new tariff will be used when transporting aluminum and wire rod in a combined volume of not less than 3.466 million tons in…