The Ukrainian Energy and Coal Industry Ministry intends to reduce grade A coal consumption from 9.5 million tons to 6 million tons in 2017, minister Ihor Nasalyk has stated at a meeting of the Cabinet of Ministers of Ukraine. “The ministry has developed and is implementing four programs enabling us to replace more than 3.5…
The mine-constructing management of the Gaysky Mining and Processing Works is finishing construction of an important object for the underground mine – the complex of wagons in the mineshaft. “The goal of this complex is to bring up wagons with rock to the surface. The daily capacity of the complex is expected to amount to…
In February Ukraine produced 1.71 million tons of steel, down by 18.7%, or by 393 thousand tons MoM. The average daily steel smelting in February dropped to 61.1 thousand tons from 67.8 thousand tons in January. Pig iron production in February decreased by 18.2%, to 1.565 million tons, rolled metal output dropped by 20%, to…
In 2016 Severstal Distribution sales increased by 6% YoY, to 1.545 million tons. Last year the companies of the network sold 14% of all the Severstal Russian Steel products. Half of the total volume, or 756 thousand tons of metal, was delivered to Russian customers. The North-Western Federal district companies sold 47% of the total…
The Privolzhsky subsidiary of the Rosbank has signed an agreement on the 6 billion rubles credit line with Vyksa Iron and Steel Works, a part of OMK. The contract stipulates provision of loans in rubles, dollars and euros. “Rosbank started cooperating with the Vyska Works in 2006, and now it’s one of our strategic partners.…
Rosterminalugol JSC, the largest dedicated coal port in the Baltic region, a part of Russia’s largest coal port holding Port Management Company LLC, says it handled 3 million tons of coal in January-February. The milestone ton was loaded onto Panamax ship Lucky, the 49th vessel handled at the terminal from the year beginning. In February…
U.K.-based mining giant Evraz, which operates mainly in Russia, expects its net debt to earnings before interest, taxes, depreciation and amortization (EBTIDA) ratio to fall to below 3x in January-June from 3.1x as of the end of 2016, president Alexander Frolov said in a conference call. Evraz’ dividend policy stipulates that the company may pay…
Evraz is in the process of selling its Evraz Yuzhkoks Works, uniting Bagley and Dneprodzerzhinsk coke and chemical plants. “The conclusion of the transaction requires several conditions, which the sides cannot fully influence”, Evraz said. According to the company, the payment of assets will be made by installments by August. Apart from the two coke…