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)
The prices of main precious metals decreased in Azerbaijan on May 8, according to the data published by the Central Bank. The cost of gold dropped by 8.1345 manats, to 2229.397 manats per troy ounce compared to the price on May 7. The cost of silver decreased by 0.1523 manats, to 27.9667 manats per ounce.…
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…
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 –…
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…
The state enterprise Yakutnedra has sold 5 alluvial gold sites at the auction. The winners were Nord LLC, Zoloto Ynykchana LLC, Charan LLC, Adycha LLC and Drazhnik LLC. In particular, Nord LLC paid 555 thousand rubles for the site at the Severikan brook. Zoloto Ynykchana LLC paid 1.65 million rubles for the site at the…
In January-March the state enterprise Lvivugol mined 362.383 thousand tons of coal, up by 16.5% from the goal. Since April 1 the enterprise has been yielding around 5 thousand tons of coal a day. As of early April, 6 long faces were in development. Stepnaya mine has been providing around 1 thousand tons of coal…
The Cabinet of Ministers of the Republic of Tatarstan has reviewed the agreement on the operation on the territory of the social and economical development “Nizhnekamsk”. The Cabinet has approved the proposition of the Russian-Chinese Kamastal LLC to organize the manufacture of coated steel coils. Shandong Baikal Group will be the Chinese investor. The cost…