The construction of a separating dam at Magnitogorsk Reservoir, part of rebuilding processes of Magnitogorsk Iron and Steel Works’ (MMK) circulating water supply system, is entering its final stages. The project, at a cost of approximately 660 million rubles, will significantly reduce the environmental burden on the reservoir. This is one of MMK’s most important…
Metinvest, the vertically integrated steel and mining group of companies, has secured additional long-term supply of high-grade coking coal by investing in production cooperation and acquiring up to 24.99% of some coking coal assets in Ukraine. This is in line with the group’s strategic priority of improving its self-sufficiency in coking coal to strengthen its…
The prices of precious metals increased in Azerbaijan on August 20, according to the data published by the Central Bank. The price of gold increased by 15.708 manats, to 2016.081 manats per ounce on August 20 compared to the price on August 17. The price of silver grew by 0.2018 manats, to 25.118 manats per…
Ukrainian President Petro Poroshenko has signed a law introducing amendments to Ukraine’s state budget for 2018 regarding the payment of wage arrears to miners, the press service of the head of state has said. “President Petro Poroshenko signed the law of Ukraine on the introduction of amendments to the law of Ukraine on Ukraine’s state…
The price of one ounce of gold decreased by 54.3065 manats or by 2.64% last week, to 2020.3684 manats. The price of one ounce of silver decreased by 1.0258 manats or by 3.95%, to 25.31152 manats. Last week the price of one ounce of platinum decreased by 65.637 manats or by 4.72%, to 1346.7774 manats.…
The authorities of Karaganda region and ArcelorMittal Temirtau have signed a roadmap on development in 2018-2020. The company will have invested 305 billion tenge in the manufacturing by 2020. Since 2010, this is the highest level of investments in modernization. In 2018 AMT will invest 100 billion tenge in modernization, in 2019 – 105 billion…
In January-June the net profit of KAZ Minerals Plc grew by 49% YoY, to $276 million. Revenue totaled $1.1 billion, up by 52%. Copper concentrate and copper cathode sales prices increased by 17% and by 19% respectively, to $6135 and $6916 per ton. This year the company intends to produce 270-300 thousand tons of copper.…
The first rock mining and explosive works have been carried out on the territory of the Baranyevskoye deposits. The first ore is expected to be extracted in late 2018, while in 2019-2020 the Aginsky Mining and Processing Works will reach the design capacity. The reserves of the deposits are 30 tons of gold and 20…