According to forecasts, the budget of Kyrgyzstan will get 2 billion soms from holding of tenders for sale of licenses for fields, the Deputy Chairman of the State Committee for Industry, Energy and Subsoil Use Myrza Zhamanbaev declared. Placement of objects for tenders is delayed due to the new law on mineral resources. The State…
Over the week, the price of one ounce of gold increased by 34.5525 manats or by 1.5%. Accordingly, the average price of one ounce of gold stood at 2,248.8535 manats. The price of one ounce of silver went up by 0.4069 manats or by 1.6%, to 25.0874 manats. The price of one ounce of platinum…
Lydian International President and CEO Joao Carrelo is stepping down, the company said in a news release. It said Carrelo was leaving the position effective from June 12 “as part of the company’s restructuring program”. Lydian also announced that the board of directors had appointed Edward Sellers, a current member of the board of directors,…
Baikal Mining Company and Outotec have signed an agreement on the delivery of the machinery valued at 250 million euro to Udokan Mining and Processing Works. The company will supply machinery for floatation processing of ores with the volume ranging from 20 to 300 cubic meters. The usage of module extraction units will reduce construction…
Metalloinvest, a leading global producer and supplier of HBI and iron ore products, and a regional producer of high-quality steel, has signed a binding agreement with the company Ultramar for the construction of a specialized terminal for the transfer of iron ore pellets and HBI at the Ust-Luga port, located in the Leningrad region. The…
Severstal organizational structure has been reconfigured to support its updated strategy and ensure it consistently delivers an excellent customer experience. Based on agile business principles, all of the company’s production and “selling” divisions now fall under two streams – upstream and downstream, for which common business goals are set. Upstream includes all of Severstal’s raw…
RUSAL will plant 500 thousand trees in the Irkutsk region, as part of the company’s climate strategy on greenhouse gas absorption. During the St. Petersburg Economic Forum, RUSAL, the Federal Forestry Agency and the Government of the Irkutsk region signed an agreement to implement voluntary eco-friendly projects, which include planting at least 500 thousand trees…
At the Extraordinary General Shareholders’ Meeting (EGM) held on June 7, NLMK shareholders approved the payment of Q1 dividends of 7.34 rubles per share, or 100% of the company’s free cash flow according to NLMK Group’s consolidated statements prepared in accordance with IFRS. The date upon which the shareholders entitled to Q1 dividends will be…
