As of September 10, the Susumanzoloto enterprises obtained 3966.8 kg of gold on the territory of Magadan region. In particular, Electrum plus yielded 357.8 kg of gold. Drazhnik LLC obtained 1278 kg of alluvial gold, Karyer Chelbanya LLC – 292.2 kg, Chay-Urya Gold LLC – 643.8 kg, Astra LLC – 346.3 kg, Gerba LLC –107.1…
In January-June Petropavlovsk received 1.4 billion rubles ($24.5 million) of net profits, up 2.7-fold. Revenue increased by 19.7%, to 17.38 billion rubles ($304 million). EBITDA grew by 30% YoY, to 6.52 billion rubles ($114 million), despite the strengthening of the ruble, which increases Russian gold miners’ expenses when converting to dollars. Gold output in H1…
Chelyabinsk Iron and Steel Works has won a tender to supply rails of the construction of the second belt of Moscow Subway. The cost of the contract is some 1.5 billion rubles. ChMK will produce rails for the southwestern site of the Moscow belt railroad. In particular, the company will supply around 35 thousand tons…
Zlatoustovsky Electrometallurgical Works will assemble new furnaces at the rolling shop No. 3 export site. Several heating furnaces produces by Bosio arrived at ZEMZ on August 18. The first 5 furnaces will be assembled and integrated in the manufacturing process in January 2018. This will decrease gas usage and expenses on transporting metal from one…
In 2017 Russian coal exports to the Asia-Pacific Region countries will exceed $5 billion. The share of coking coals will reach 25% against 18% in 2014. Coal transportation through Far Eastern ports in 2016 totaled 60%, up from 46% in 2009. 88% of Russian coalmining companies expect an increase in world coal prices in 2017.…
United Metal Company has announced its decision to shut down the open-hearth furnace shop at Vyksa Iron and Steel Works. The shop is expected to stop operating in Q1 2018. Most of the shop employees will work in other subdivisions. OMK will replace its own open-hearth steel with continuous cast billets produced by UralStal, a…
The state budget for the year 2018 does not provide for the subsidies to state coalmines. “Subsidies for mines are not stipulated in the 2018 budget project”, the minister of finances Alexander Danilyuk said. The chairman of the Donetsk military-civilian regional state administration Pavel Zhebrivsky in early June said that by autumn 2018 all the…
Gaz-Aliance Company LLC (Nizhny Novgorod), controlled by the fugitive Ukrainian entrepreneur Sergey Kurchenko, from the ex-president Victor Yanukovich gang, in July-August exported $70.6 million worth of pig iron and other metal products, produced by the metal companies, seized in February-March by the Russia-supported militants on the occupied areas of Lugansk and Donetsk regions. In late…