Ukraine: court freezes Poltava GOK shares

A Ukrainian court has limited 50.3% of Ferrexpo Poltava Mining (FPM) shares, belonging to Ferrexpo AG Switzerland, the only shareholder. Ferrexpo AG says the arrest does not affect the ownership of the shares, but prohibits their transfer. The group believes this is connected with issues of the company beneficiary Konstantin Zhevago and a company he…

Ukraine: WB to support in coal industry restructuring

The World Bank intends to support the mitigation of social and environmental impacts of the coal industry restructuring in Ukraine, according to the Ministry of Energy and Environmental Protection. “The World Bank, with the support of the European Commission and other international financial institutions, intends to support the mitigation of social and environmental impacts as…

Ukraine: ZALK replaces CEO

The supervisory fund of Zaporozhye Aluminum Works has elected Sergey Ignatovsky, the deputy chairman of the State Property Fund, its chairman. The decision was taken on January 23. Ignatovsky was appointed the supervisory fund member on December 23, 2019. The same day, the supervisory board appointed Sergey Kizilov the acting CEO of ZALK, having relieved…

Russia: Nornickel output up in 2019

In 2019 Kola Company, a part of Norilsk Nickel, increased nickel output by 5%, to 229 thousand tons. Nickel manufacture of own raw materials totaled 225 thousand tons. Copper production grew by 5%, to 499 thousand tons, with 455 thousand tons produced of own raw materials. Bystrinsky GOK manufactured 43 thousand tons of copper. Nornickel…

Russia: MMK turns 88

On February 1 Magnitogorsk Iron and Steel Works turns 88. The enterprise was created at the foot of the Magnitnaya mountain. The first blast furnace produced the first pig iron on February 1, 1932. The first open-hearth furnace started operating in July 1933, and in August 1934 the company commissioned the 500-mill. In late 1980s…