Metinvest B.V. has started reselling a part of metal manufactured by Dneprovsky Iron and Steel Combine, which it receives as payment for raw materials, supplied previously and being supplied still. According to Maxim Zavgorodniy, the executive director of ISD, the owner of DMK, the works supplies only a part of its products to clear debts.…
Black Iron intends to use loans, including from EBRD, to construct Shimanovskoye Mining and Processing Works. “Recently the bank has decided to invest $350 million into ArcelorMittal Kirviy Rih, which is close to our deposits”, the company said. The first stage of construction presupposes the GOK capacity of 4 million tons per year, and the…
In January-September Chelyabinsk Pipe Rolling Works received 825.92 million rubles of net losses as opposed to 3.529 billion rubles of net profit in 9 months of 2016. According to the company statement, its earnings increased by 7.4%, to 78.686 billion rubles, sales profits dropped from 9.784 billion rubles to 4.75 billion rubles, gross profit –…
The new owner of Dneprometiz is now its previous owner, TAS Group owner and ex-vice-prime minister Sergey Tigipko. After the sale by Severstal of its 100% on Dealzone Holding Ltd, owning 98.6% in Dneprometiz, there have been changes in the board of directors. Andrei Ryzhov and Vitaly Palabugin, representing Severstal, resigned. Instead of two more…
A resident of Min-Kush village died in an old mine in Dzhumgal district of Naryn region, the Ministry of Emergency Situations of Kyrgyzstan reported. According to it, a 61-year-old villager illegally mined coal in the old mine near Ak-Ulak field. The tunnel of the mine collapsed. Rescuers of the Ministry lifted the body from a…
Russian oil and gas pipe maker TMK expects that the U.S.’ demand for the company’s products will double to around 5 million tons in 2017, Sergei Alekseyev, director for global marketing, reported. “Thanks to the U.S. market recovery demand will be about twice as high as in 2016 and will amount to around 5 million…
In January-August Russia exported 5.9 million tons of flat rolled metal, up by 2.56% YoY. This is also the highest volume of exports for the past 7 years. Revenue increased by 51.4%, to $3 billion, the highest in 3 years. The main consumer was Turkey (33.4%, up by 8% YoY), followed by Egypt (6.3%, +133%),…
Novovolynskaya Mine is the only new mine in Ukraine. Its construction began in early 1980s. As of 2013 it was 87% complete, but the same year construction stopped because of the strike due to the half a year salary debts to builders. The mine had to be commissioned in 2014, but it did not happen.…
