Ukraine: Ferrexpo profit down in H1 2018

In January-June Ferrexpo decreased net profit by 29.6% YoY, to $152 million. According to the group statement, revenue grew by 4.4%, to $617 million. EBITDA dropped by 18.5%, to $234 million. Net debt as of June 30 decreased to $368 million from $394 million as of December 31, 2017. Sales volumes dropped to 4.798 million…

Ukraine: UGOK output down in July 2018

In July Yuzhniy Mining and Processing Works produced 1044.4 thousand tons of concentrate, down by 0.7% YoY. According to the company statement, sinter output dropped by 63%, to 56.5 thousand tons. In January-July UGOK produced 7104.6 thousand tons of concentrate and 951.1 thousand tons of sinter, all down by 0.4% and by 9% YoY respectively.…

Russia: MMK net profit up in H1 2018

In January-June MMK net profit increased by 24.7% YoY, to $671 million. Revenue grew by 16%, to $4.16 billion. EBITDA went up by 33.4%, to $1.21 billion. The group debts as of late June totaled $521 million. “The high financial results allowed the Board of directors to recommend paying $281 million of dividends for Q2”,…

Ukraine: only 4 state mines profitable

Out of 33 state mines, situated on the Ukraine-controlled territory, only 4 are profitable. On the whole Ukraine has 102 state mines, but most of them are situated on the uncontrolled territory. In January-May state coalmining decreased by 3.6% YoY, while coal cost grew by 30.5%. On July 9 Novovolynskaya mine No. 9 stopped operating…

Russia: Hiagda uranium output up in H1 2018

In January-June Hiagda overfulfilled its uranium-mining plan by 5%.

At the same time, thanks to the measures to improve manufacturing efficiency the company was able to decrease prime cost of the products by 8%.

This year the company intends to construct a high-voltage line and a road to the Kolichikanskoye deposits. (Ukrainian metal)

Russia: KSGOK output up in H1 2018

In January-June Kimkano-Sutarsky Mining and Processing Works LLC produced 1.059 million tons of iron ore concentrate, up more than 2-fold YoY.

In Q2 concentrate output grew by 53%, to 580.9 thousand tons.

Sales have also increased 2-fold, to 10.46 million tons.

All the iron ore concentrate is exported to China. (Ukrainian metal)

Russia: UGMK-Stal gets new raw materials base

UGMK-Stal has received another asset – the mining enterprise Boguslavskoye Mine Group. The enterprise mines iron ores and processes iron ore concentrates, as well as produces construction crushed stone. The enterprise possesses the Severopeschanskaya mine, a crushing factory and a number of auxiliary departments. Its annual output is 2.4 million tons of ore and 1.2…