International rating agency Fitch has upgraded NLMK Group’s long-term credit rating from BBB- to BBB (both are investment grade). The outlook remained stable. In its official statement, Fitch positively assessed the company’s financial stability, ensured by a high level of operating efficiency and a low debt. Shamil Kurmashov, NLMK Group CFO, said: “We welcome the…
On April 8, the rating agency Fitch Ratings upgraded company’s Long-Term Issuer Default Rating to BBB from BBB- with Stable Outlook. In its press release Fitch Ratings notes that the rating upgrade reflects MMK’s ability to maintain a conservative financial profile during market turbulence due to the company’s low cost of operations, focus on high-value…
The open-pit mine of Stoilensky, the second largest producer of iron ore concentrate in Russia, has launched a pilot project to implement a personnel-positioning system. The system will improve the safety of open pit mining, as it will enable timely response to emergency situations through monitoring and analyzing the personnel’s actions and equipment operation. The…
International rating agency Fitch Ratings has upgraded the long-term issuer default rating of the Russian steelmaker Severstal to BBB from BBB-, with a stable outlook. “The rating upgrade reflects Severstal’s tested conservative financial policy during the supply-driven steel price turbulence in 2016-2017 and increasing protectionism since 2018. Its strong financial profile has been driven by…
Russian oil companies Rosneft, Lukoil, Gazprom Neft, Surgutneftegas and Tatneft have asked Prime Minister Dmitry Medvedev to allow them selling used oil and gas pipes or using them for construction. Oil companies used to sell used pipes as scrap metal or used up to 80% of the old pipelines for construction. The sold pipes sometimes…
In March Sverdlovsk railroad transported 12.3 million tons of cargo, up by 2% YoY. In January-March transportation grew by 1.6% YoY, to 34.4 million tons. In particular, the railroad transported 2.7 million tons of ferrous metals, up by 10.9%, 518.6 thousand tons of scrap (+4.6%), 3.1 million tons of iron and manganese ore (+9.2%), and…
KMK-Partners has become a resident of the Belogorsk advanced development territory in Amur region. This is the seventh resident registered in the territory. Next year the company will start producing construction metal structures. It intends to produce some 4 thousand tons of metal structures per year. The company will also repair construction machines. Investments in…
The Central electrotechical laboratory of Evraz NTMK has turned 60. The order to create the laboratory was signed by the first director of the works in 1959. Now the laboratory performs some 18 thousand control and repair operations of 415 machines, 889 power transformers, and 20 thousand electric appliances. This year the laboratory, employing 74…