Russian aluminum giant UC RUSAL may start a temporary shutdown of the majority of its production capacities already in September if the U.S. sanctions remain in force, sources close to the company said commenting on Fitch Ratings’ outlook for the global aluminum industry. Fitch reported that keeping sanctions against RUSAL would lead to growth of…
The prices of precious metals except for palladium increased on August 9, according to the data published by the Central Bank. The price of gold increased by 1.2325 manats, to 2064.0805 manats per ounce on August 9, compared to the price on August 8. The price of silver increased by 0.0688 manats, to 26.2854 manats…
About 200 employees of Georezerv TK CJSC were dismissed from the factory due to lack of money, the Chairman of the Mining and Metallurgical Trade Union Eldar Tadzhibaev reported. The workers held a rally near the office of Georezerv TK CJSC, demanding to pay out wage arrears for the last 5 months. Almost all employees…
In January-July Kazakhstan industrial enterprises increased prices by 9.4% YoY. According to the Statistics Committee of the Ministry of the National Economy, in particular, the ferroalloys saw the largest price increase – by 16.7%. Prices of ferrous metals grew by 11.2%, aluminum – by 9.2%, lead – by 4%, and copper – by 3.6%. At…
On August 6 the miners of the state enterprise Selidovugol were partially paid their salary debts. According to Mikhail Volynets, the chairman of the Independent Miners Union, 30 million UAH was used to pay April and 50% of May salary. Still, there is a debt of June and July salary. (Ukrainian metal)
Flooded mines and destroyed enterprises after the seized territories of Donbass are returned to Ukraine will not be restored. “32 mines are flooded or are being flooded. None will restore them. Never. Some enterprises have been dismantled and taken to Russia, some have been plundered for scrap. It is impossible to resume their operation”, deputy…
Valki-Ilmenit and Mezhdurechensky Mining and Processing Works, both parts of Group DF, in January-June increased ilmenite concentrate output by 80% YoY, to 70 thousand tons. The increase was due to Valki-Ilmenit resuming operation on June 1. For over a year the company could not get its license. Ilmenite ore output grew by 65%, to 1.28…
Karaganda region governor Yerlan Koshanov surveyed the Sary-ArkaCopperProcessing, the cathode copper plant, that started its work in the test mode in Shetsky district, Karaganda region, the governor’s press service reports. Constriction of the plant worth more than $14 million started in 2016. Now it is operating in the test mode. The pilot batch of its…