The government of Kyrgyzstan thinks how to remove dependence of the economy on Kumtor. The growth of the economy directly depends on the work of the mine. According to the head of the State Committee of Industry, Energy and Subsoil Use, Ulan Ryskulov, it is possible to launch up to ten large deposits in the…
In January-June Russia imported 15.2 thousand tons of seamless corrosion-resistant steel pipes from Kazakhstan, up 50-fold YoY. Moreover the result of the whole 2017 has been exceeded 4.5-fold. Kazakhstan accounts for some 60% of all Russian imports of these products. Pipes for oil and gas pipelines represent the major part of imports. (Ukrainian metal)
In January-June Korshunovsky Mining and Processing Works sold 846 thousand tons of iron ore concentrate, down by 40% YoY. In Q1 sales totaled 361 thousand tons, and in Q2 they grew by 41%, to 495 thousand tons. The increase in sales is due to the growth of output. In 2017 KGOK sold 2.5 million tons…
In June Russia exported 272 thousand tons of raw aluminum, up by 5.4% YoY. According to the customs statistics, in January-June exports reached 1.55 million tons valued at $2824 million, up by 10.3% and by 24.1% YoY respectively. In June the average price was $1174 per ton FOB Russian border, up by 8.4% YoY. (Ukrainian…
The Belozerskoye Mine Group (Donetsk region) has put into operation the 5th northern long face at the Novodonetskaya mine. The coal reserves total 2 million tons. The face will provide miners with enough work for the next 18 months. The length of the face is 300 meters. (Ukrainian metal)
Azovstal Iron and Steel Works will completely reconstruct its blast furnace shop. According to the company statement, by 2021 some 900 million UAH will have been invested in the environment modernization. 2 years ago Azovstal completed the reconstruction of the blast furnace No. 4, which is now one of the up-to-date and environment-friendly furnaces in…
The Arbitrary court of Sverdlovsk region will consider the claim of Sortstal on being declared bankrupt. The court received the relevant document on August 24. According to it, the volume of claims is 49.87 million rubles. Sortstal was registered in 2004. Its main activities were wholesale of fuel, ore and chemical materials. (Ukrainian metal)
In January-June Nordgold net profit decreased by 17% YoY, to $56.2 million. According to the company, the revenue dropped by 3%, to $589.7 million. EBITDA went down by 8%, to $246.2 million. In Q2 net profit decreased 3.1-fold QoQ, to $13.9 million The revenue dropped by 3%, to $289.6 million, and EBITDA – by 5%,…