Russia: Tulachermet to produce wire rod

The Tulachermet-Steel casting and rolling complex, to be commissioned by the end of the year, will produce rolled metal for the manufacture of metal wares. At present Russia imports some 530 thousand tons of metal wares per year, with 60% – from China. Tulachermet-Steel will produce steel and rolled metal of high quality. And many…

Russia: UralKuz sales up in January-September 2018

In January-September UralKuz increased sales by 61% YoY, to 110 thousand tons.

Revenue grew by 50%.

“The growth has to do with the revival of the market and a high demand for wagon building products. The capacity modernization allowed us reaching a record-high output”, the company managing director Victor Matsenko declared. (Ukrainian metal)

Russia: MMK open for industrial tourism

Magnitogorsk Iron and Steel Works (MMK) has launched a project, which allows guests to visit the company’s production site. Several sightseeing tours are now readily available to tourists. “Taming the Fire” – this tour includes a visit to Russia’s largest blast furnace plant and the unique complex of Mill 5000 whose products are used to…

Ukraine: pellets exports in January-July 2018

In January-July Ferrexpo exported 6.711 million tons of iron ore pellets. In particular, Poltava GOK exported 5.098 million tons and Yeristovo GOK – 1.613 million tons. Karelsky Okatysh (Russia) exported 3.808 million tons of pellets. Metinvest in 7 months shipped abroad 3.458 million tons of pellets (CGOK – 1.542 million tons and SevGOK – 1.916…

Russia: STZ gets Alfa-Bank loan

Alfa-Bank has provided financing of 2.5 billion rubles to Seversky Pipe Works, a part of TMK. The funds have been issued for 4.5 years. “Alfa-Bank is supporting the long-term partner relations with TMK. Strong capital positions, flexibility, speed and the industry expertise allow the bank to successfully compete with state banks for the largest borrowers…

Kyrgyzstan: Makmal mine looking for partner

According to preliminary data, Makmal field will have been put up for competition by November 1, the Deputy Chairman of the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan Suyuntbek Alikeyev announced. According to him, about 200-300 million soms are needed for additional exploration of the two sections of the field. Kyrgyzaltyn JSC…

Russia: GV Gold’s output up in Q3 2018

Gold output of GV Gold rose by 50% YoY and by 27% QoQ, to 92,500 ounces in July-September, the company said in a statement on October 18.

In January-September production grew by 64% YoY, to 220,300 ounces.

In 2018 the company plans to produce 280,000-300,000 ounces of gold. (Prime/Ukrainian metal)