Magnitogorsk Iron and Steel Works (MMK) expects its steel product output growth at 2-3% in 2020, Director for Economy Andrei Yeryomin announced during an investor day. He said that production could decrease in January–June 2020 due to seasonal factors and repairs on the hot rolling mill. Yeryomin also said that MMK could improve the outlook…
Pravourminskoye LLC, a part of Rusolovo, in January-September received 86.9 million rubles of net profit, up by 69% YoY. Revenue grew by 52%, to 1.06 billion rubles, due to tin sales. Gross profit increased by 16%. As of September 30 the company has increased investments in prospecting almost 10-fold, to 4.89 million rubles. (Ukrainian metal)
NLMK-Ural in Nizhniye Sergi has commissioned a new power complex to provide the works with electrical and heating energy. With the help of the new complex electricity purchases will decrease 2-fold, the company will be completely provided with heating, and greenhouses gases emission will drop by 4 thousand tons per year. The complex has become…
Implementation of Magnitogorsk Iron and Steel Works’ (MMK) investment strategy from 2015-2025 should add $686 million to the company’s EBITDA per year. This was announced by MMK’s top management team at the company’s Capital Markets Day held in London on November 15. At the event, MMK’s Chairman of the Board of Directors Viсtor Rashnikov, CEO…
Average retail coal prices grew by 126.38 soms per ton, or by 2.8% in the first two weeks of November compared to the October prices. The National Statistical Committee presented such data. The maximum average coal prices were registered in Kara-Suu (8,485.28 soms), Batken (7,455.29 soms) and Nookat (7,286.61 soms) cities. At the same time,…
Ferrexpo mining company with assets in Ukraine has appointed Roman Polivoda the acting financial director. The appointment follows the resignation of Konstantin Zhevaho from the office of the CEO and the appointment of the financial director Chris Mawe instead. Polivoda, a citizen of Ukraine, joined Ferrexpo in 2008 as an accountant. Because of the temporary…
Moldova Iron and Steel Works has reoriented the import of scrap from Ukraine to Romania, which has resulted in the drop of output, as the Romanian products are more expensive. According to the chairman of the parliament committee on economic policy, budget and finances Oleg Vasilatiy, the tax burden of the company might be decreased.…
In October Vorkutaugol mined 1.213 million tons of coal, up by 70 thousand tons compared with August, when 1.145 million tons of coal were extracted. This was the highest monthly result when operating with 4 mines and a quarry. All the mines fulfilled their output goals in October. The Pechorskaya factory processed 820 thousand tons…