Severstal announced details of its 2017 capital investment program, which highlighted its operational excellence and long-term competitiveness. In 2017 Severstal plans to invest approximately 43 billion rubles across the business. This investment will primarily focus on developing key areas of the company’s strategy including cost control, increasing production of high-value added products and enhancing safety…
The working group created by the Ministry of energy and coal industry to investigate the state purchases by mining companies has called the management of the state enterprise Krasnoarmeyskugol to come to Kiev. The increased prices of Donbass mining companies during state purchases have drawn attention of journalists, people’s deputies and the people. The scandal…
Navoi Iron and Steel Works has resumed gold mining at Amantaytau mine in the Central Kyzylkum. In 2003 the previous owner Amantaytau Goldfields put the gold mining factory in operation there with the capacity to produce 6.3 tons of gold per year. In 2011 the company was liquidated and its assets given to the Navoi…
Lydian Armenia, operating at the Amulsar deposits in Jermuk, will receive its first gold nugget in March 2018. The construction works in Jermuk are underway and will last for 18 months. “We are prepared to invest $370 million and create 700 jobs in 10 years. The program presupposes the annual gold exports of $259 million”,…
The Rosprirodnadzor (the Federal service of supervision in environment) has found out that Mechel-koks works in Chelyabinsk has been polluting the air. The service ruled the polluting equipment to be shut down. The service is preparing documents for the court to shut down the works for 90 days. Mechel-koks does not agree with the service…
Chelyabinsk Iron and Steel Works, a part of Mechel, has successfully passed the re-certification audit for the compliance of its construction materials with the state standards. The company has received certificates for 14 types of products, including the flange beam, the manufacture of which has started in the beam-rail shop. The certificates allow the company…
In 2016 Zaporozhogneupor increased tax payments to the local budget by 74%, or by 12.6 million UAH, to 29.6 million UAH. According to the company statement, in 2015 it paid 17 million UAH of taxes. The key factors for the increase of taxes in 2016 were the growth of salary by 23% and payments for…
The Mariupol Ilyich Iron and Steel Works will have additional expenses of 700 million UAH following the increase of railroad tariffs, and 10% of its products will become profitless, the company CEO Yuri Zinchenko said. “In case of another tariff increase 10% of our 2017 orders will automatically become profitless. Why? Because the prime cost…