Because of the loss of electricity at the Zolotoye and Karbonit mines in Kiev-controlled part of Lugansk region, over 170 miners have been trapped underground. In particular, 93 miners were blocked in the Karbonit mine, and 83 people in the Zolotoye mine. The electricity was cut off because of the severe weather conditions and heavy…
Cherepovets Iron and Steel Works has started a major construction project – blast furnace No. 3. The furnace will cover one third of the company needs in pig iron, or around 3 million tons. The site, where the BF will be constructed, already has 2 large air heaters. They were constructed several years ago, but…
Armet LLC, a part of Anglo Russian Gold Ltd, in June intends to start constructing the Rudnik Archikoy mine in Zabaykalye region. In March the project documents will be submitted for the state expertise. In 2019 it is expected to mine 346 thousand tons of ore. The construction of the mine with the capacity of…
This year the Sakhalin region plans to increase coal output to 11 million tons. In case this goal is reached, the increase will amount to 45% YoY. Over half of the volume will be provided by Solntsevsky Coal Pit LLC, Gornyak 1 LLC, Boshnyakovsky Coal Pit LLC and Western Coal Company LLC. Last year the…
In January Russia exported 3.391 million tons of ferrous metals, up by 20% YoY. According to the Federal Customs Service, exports of semi-finished products of carbon steel totaled 1.196 million tons, up by 1.7%. Ferroalloys exports dropped by 16.8% YoY, to 0.054 million tons. At the same time exports of flat carbon steel products increased…
In 2017 Nordgold received $166.8 million of net profit, up by 4% YoY. Revenue grew by 14%, to $1.22 billion, and EBITDA – by 7%, to $520.5 million. The company net debt last year increased by 30%, to $656.3 million. Last year Nordgold produced 968.3 thousand ounces of gold, up by 11%. This year the…
The volume of Pobuzhye Ferronickel Plant investment program will this year amount to $.47 million. According to the company CEO Oleg Bespalov, $1.2 million will be spent on the reconstruction of the tubular rotary kiln gas-purifying equipment. Last year PFK began the long-term project on the reconstruction, investing $600 thousand in the purchase of 2…
The OECD Council approved Kazakhstan’s application to join the Organization’s Steel Committee, the press service of the country’s Ministry of Investment and Development reports. “Following the presentation of the preliminary review of Kazakhstan’s steel industry policy, which took place on September 28-29, 2017, the secretariat of the Steel Committee decided to recommend the OECD Council…