In November 2017 Metinvest B. V. revenue dropped by 6.7% MoM, or by $62 million, to $866 million. EBITDA was $196 million, down by 12.5% MoM. Corrected EBITDA for the metal division as of late November 2017 was $130 million ($148 million in October 2017), including $5 million from participation in joint ventures ($12 million).…
In 2017 Interpipe increased sales of railroad wheels and tyres to Ukrzaliznytsia more than 2.2-fold. “Last year Ukrzaliznytsia once again became our key client. Despite the replacement of its chairman Ukrzaliznytsia still follows the direction to modernize the rolling stock”, Interpipe CFO Denis Morozov said. He noted that it became easier for the company to…
International rating agency Moody’s has upgraded the long-term credit rating of NLMK Group, an international steel company with operations in Russia, the United States, and the European Union, from Ba1 to investment grade Вaa3, with a positive outlook. The decision follows a rating action to raise Russia’s sovereign ceiling, which took place on January 25.…
IPSCO Tubulars, a subsidiary of Russian oil and gas pipe maker TMK, plans to offer about 23.3 million shares at $20-23 per paper during an initial public offering (IPO), the company said in a statement on January 29. IPSCO Tubulars will sell 7.4 million shares, and TMK will sell 15.8 million shares it owns…
Tajikistan is prospecting for uranium not to resume mining, but to evaluate the reserves. “This does not mean we will return to uranium mining”, the director of Main geology department at the government Zarobiddin Fayzullozoda said. “Uranium was actively processed on the territory of Tajikistan under the Soviet Union. The work on prospecting started in…
In December 2017 Russia produced 5.93 million tons of steel, down by 4.2% YoY (5.74 million tons in November 2017). In 2017 steel output totaled 71.34 million tons, up by 1.3% YoY. Ukraine produced 2.06 million tons of steel in December 2017 (2 million tons in November 2017), down by 2.4% YoY and 24.218 million…
In December 2017 Russia produced 4.32 million tons of pig iron, down by 3.6% YoY (4.19 million tons in November 2017). In 2017 Russia produced 51.58 million tons of pig iron, down by 0.6% YoY. Ukraine decreased pig iron output in December 2017 by 7.4% YoY, to 1.8 million tons (1.74 million tons). In 12…
In 2018 Kinross Gold has produced the 6-millionth ounce of gold at its Kupol mine since its commissioning. According to the company statement, in 2016 it produced 734143 ounces of gold. Kinross Gold is developing two deposits in Chukotka – Kupol and Dvoynoye. This year the company intends to start developing the Moroshka deposits. The…