The Cabinet of Ministers will transfer some 500 million UAH to clear salary debts to state miners. “The funds will also be used to cover losses of Ukrainian mines in state ownership”, the Prime Minister Vladimir Groysman declared. On July 13 the Verkhovna Rada decided to pay additionally 1.4 billion UAH of subsidies to state…
Faroz has received a license to prospect and develop gold-ore and antimony deposits in Sogdiy region. The license for the Ukobkhon gold deposits and Pakhndar antimony deposits is valid until 2022. The company has been prospecting and developing Tajikistan subsoil for a number of years now. In particular, it has received the right to use…
In January-October Irkutsk region extracted 21635 kg of gold, up by 9.2% YoY. This year 30 enterprises are extracting gold in the region. Ore gold accounted for 11291 kg, and alluvial gold – for 10344 kg. Alluvial gold output remained unchanged YoY, while ore gold extraction grew by 19%. This year the region intends to…
Norilsk Nickel has paid 122.78 billion rubles ($1.86 billion) of dividends for the first half of 2018. Rusal (owning 27.8%) is still receiving dividends, even though it has been hit by US sanctions. In November 5 Rusal reported that it had already received $402 million from Nornickel. According to Nornickel, these are dividends for 2017,…
The department for the protection of the local market of the Eurasian Economic Commission has completed another antidumping investigation as to some types of steel pipes, manufactured by Interpipe (Ukraine). The investigation has been initiated to review individual antidumping duties because of new circumstances. Following the investigation the commission did not support changing the antidumping…
The Bank Otkrytie has provided the Ural Mining-Metallurgical Company with financing in the volume of 15 billion rubles until October 2021. The funds will be spent to refinance current loan obligations and cover operational expenses. “This financing will let UMMC increase business volumes, including by investing in its own development”, the bank said. “The loan…
Under the program to increase capacity Kamensk-Uralsky Iron and Steel Works has commissioned a Danieli-Freling finishing stand of the hot-rolling mill. At present the company is testing other machinery as well. The rolling complex project will allow the company producing qualitatively new semi-finished products. The design capacity of the complex is 166 thousand tons. Since…
In October miners of the Mezhegeyugol, a part of Evraz, dug out 1731 meters of rock, having set a record in Russia. Each day the miners were able to dig some 60 to 70 meters of rock. In December 2017 Mezhegeyugol miners set their first digging record – 1337 meters. At that time it was…
