On May 23 a new long face No. 132 at the Stepnaya mine of the state enterprise Lvivugol was put into operation. The reserves of the low-ash coal reach 163.9 thousand tons, the length of the face is 150 meters with the possibility to increase to 220 m. The miners will be developing the face…
The prices of precious metals, except for palladium, decreased on May 29, according to the data published by the Central Bank. The cost of gold decreased by 7.7095 manats, to 2206.583 manats per troy ounce, compared to the price on May 25. The cost of silver decreased by 0.26 manats, to 27.9821 manats per ounce.…
As part of the implementation of its Big Data strategic initiative, Magnitogorsk Iron & Steel Works is planning to complete five projects in 2018 that will result in savings of over 40 million rubles a year. At the end of 2015 MMK adopted a new development strategy for the period through 2025 that included, among…
Since 2015 KAZ Minerals Bozymchak has exported 9,760 tons of gold concentrate from Kyrgyzstan, the State Service for Combating Economic Crimes reported. The audit report of the Accounting Chamber confirmed the data. “In December 2017 the Investigation Department of the State Service for Combating Economic Crimes instituted criminal proceedings under the article “Abuse of power…
A Russian metallurgical company based in Verkhnyaya Pyshma, the second largest copper producer in Russia, has expressed willingness to cooperate with Iran in the country’s mining sector. “We can cooperate with Iran in various fields by having access to Iran’s projects,” Sergo Kurbanov, an official with UMMC (Ural Mining and Metallurgical Company) said during a…
Representatives of the Chinese gold mining company, GL Makmal Developing LLC, will not demand from the government of Kyrgyzstan the compensation for the damages so far. According to them, the preliminary amount of damage is $2.3 million. “But we do not put forward demands. We are waiting for the interdepartmental commission to finish its work.…
Last week the price of one ounce of gold in Azerbaijan increased by 24.5395 manats or by 1.1207%. Accordingly, the average price of one ounce of gold stood at 2,198.9245 manats. The price of one ounce of silver increased by 0.3965 manats or by 1.4238%, to 28.03702 manats. The price of one ounce of platinum…
Prime Minister Bakytzhan Sagintayev familiarized with the production process automation at Sokolov-Sarybai Mining Production Association (SSGPO) JSC, a part of Eurasian Resources Group (ERG) during his working trip to Kostanay region. The Premier made the first stop at the Sokolovsky open pit. This is the field where the history of strip mining with the use…
Tula Aluminum Works will invest 2.6 billion rubles in the construction of the aluminum alloys processing works. The company will become a resident of the Uzlovaya special economic zone. “The import-replacing manufacture will create over 200 jobs”, the regional governor Alexei Dyumin declared. According to him, these products are in demand both in Russia and…
In March Russia exported 9.9 thousand tons of corrosion-resistant steel scrap and wastes, up by 49.8% MoM and by 8.7% YoY. According to the customs statistics, revenue totaled $11 million, up by 77.2% MoM and by 20.1% YoY. In January-March Russia exported 21.9 thousand tons of this scrap, down by 2.3% YoY, valued at $23…
GeoProMining Gold, developing the Sotskoye deposits and owning the Ararat Gold-Extracting Factory, as well as Agarak Copper-Molybdenum Works, has stopped operations at the deposits. According to the company statement, the reason was the activities of other people. In particular, on May 17-18 and May 22 a group of people, consisting mainly of local criminal elements,…
Rusal, affected by US sanctions in early April, has suggested the state to start purchasing aluminum into reserves, having returned to the idea it voiced several years ago on the background of weak market situation. “The government is thinking it over”, a source in the government reported. And this is not the only way to…
This year OGK Logistic LLC intends to increase monthly transportation of coal 2-fold, to 240 thousand tons. Since January the company has been transporting coal from Solntsevsky Coal Pit in Sakhalin region on behalf of the Vostochnaya Mining and Ore Company LLC. The increase in transportation has to do with the growth of coal output…
Murmansk region will support the Norilsk Nickel investment project to reconfigure the manufacture at the Kola Iron and Steel Company valued at 25.7 billion rubles. According to the contract, signed by the parties, the project will cover 5 years (2018-2023) and all the Nornickel manufacturing sites in Murmansk region: Zapolyarniy, Nickel and Monchegorsk. As the…
By 2020 it is expected to modernize all the metal-producing capacities at the Kirovsky Works and create an up-to-date highly technological enterprise to manufacture small batches of special steels and alloys for the defense, car, oil, power and engine machine-building, and space industries. The newly created subsidiary – the Laboratory of special steels and alloys…
In April Ukraine was able to reach the 13th place in the World Steel Association rating. China traditionally tops the rating with 76.698 million tons of steel produced in April, up by 4.8%. Ukraine increased steel output by 6% YoY, to 1.721 million tons. World steel manufacture in April grew by 4.1%, to 148.322 million…
Tajikistan plans to annually increase gold production by 6%. The authorities intend to put new capacities into operation in order to achieve this result. “An annual increase in gold production at 6% due to the commissioning of new industrial capacities and enterprises is envisaged for the period until 2030,” said the Strategy for the Development…
The project of a gold processing plant in Toguz-Toro district will be drawn up after consultation with the public and carrying out explanatory work with the local residents. This was announced during a meeting of representatives of GL Makmal Developing with the head of the State Agency for Environment Protection and Forestry, Abdykalyk Rustamov. According…
Volnogorsk Mining and Processing Works has ordered 62.49 million UAH worth of goods and services at the private e-site Rialto. Imex Minerals LLC has received the most orders for spare parts and CAT machines repairs, valued at 41.08 million UAH. Other companies got smaller orders. In particular, Electrontechservice LLC will supply 11.14 million UAH worth…