Russia: Ruspolymet profit down in 2017

In 2017 Ruspolymet received 199.6 million rubles of net profit, down by 25% YoY, as calculated under the International Financial Reporting Standards.

At the same time, the company income totaled 8.65 billion rubles, up by 10.3% YoY. (Ukrainian metal)

Russia: Mangazeya Mining gold output down in 2017

In 2017 Mangazeya Mining Ltd LLC produced 24.3 thousand ounces of gold, down by 11.2% YoY.

The main reason of the drop is the low gold contents in the ore.

Ore mining grew by 2.7%, to 951 thousand tons.

Last year gold sales totaled 24.1 thousand ounces, down by 12.3% YoY. (Ukrainian metal)

Ukraine: UGOK sinter output up in April 2018

In April Yuzhniy Mining and Processing Works produced 1000.3 thousand tons of concentrate, down by 0.1% YoY. According to the company statement, sinter output increased by 7%, to 133.5 thousand tons. In January-April UGOK concentrate output dropped by 0.7% YoY, to 4012.3 thousand tons, while sinter manufacture grew by 13.8%, to 654.9 thousand tons. (Ukrainian…

Russia: MMK IFRS net profit up in Q1 2018

The net profit of Russia’s Magnitogorsk Iron and Steel Works (MMK) rose by 15.8% YoY, to $279 million in January-March, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on May 8.

Revenue increased by 23.8%, to $2.055 billion, while EBITDA grew by 23.9%, to $560 million. (Prime/Ukrainian metal)

Russia: Buryatzoloto to increase investments

Buryatzoloto, the largest gold-mining company in the Republic of Buryatia and a part of Nordgold, intends to increase investments this year to 2.1 billion rubles, or by 23% YoY. This has to do with the replacement of mining equipment at both of its mines valued at 749 million rubles. 109 million rubles will be spent…

Russia: coal mining up in April 2018

In April Russia mined 35.32 million tons of coal, up by 5.8% YoY, while exports increased by 0.7%, to 15.34 million tons. Deliveries to the domestic market grew by 17.5%, to 15.1 million tons. Imports dropped by 12.7% YoY, to 1.58 million tons. SUEK mined 9.2 million tons of coal, down by 1.2%, Kuzbassrazrezugol –…

Russia: HGM gold output down in Q1 2018

In January-March Highland Gold Mining Limited obtained 59.31 thousand ounces of gold and gold equivalent, down by 9% YoY. This year the company intends to yield 265-275 thousand ounces of gold equivalent. Average gold price in Q1 was $1329 per ounce. Last year gold output at HGM enterprises grew by 4.3% YoY, to 272.3 thousand…

Ukraine: ferrous metals export revenue up in January-April 2018

In January-April Ukraine increased ferrous metals export revenue by 32.1% YoY, to $3.49 billion. According to the State Fiscal Service, ferrous metals accounted for 22.57% of the total export earnings as opposed to 19.26% in January-April 2017. In particular, in April ferrous metals export revenue totaled $904.1 million. In January-April Ukraine imported $385.37 million worth…

Ukraine: coal imports up in January-April 2018

In January-April Ukraine imported 7.437 million tons of coal valued at $1.004 billion, up by 53.9% and by 30.3% YoY respectively. According to the State Fiscal Service, Russia supplied $643.58 million worth of coal (64.08% in the total imports), USA – $288.411 million (28.72%), Canada – $48.365 million (4.82%), and other countries – $24.003 million…