Ukraine: UGOK output down in January-February 2020

In January-February, Yuzhniy Mining and Processing Works decreased iron ore concentrate manufacture by 8.1% YoY, to 1.917 million tons. The enterprise did not produce sinter. Concentrate output in February totaled 930 thousand tons. In 2019, UGOK produced 12.3 million tons of concentrate, up by 0.1% YoY, and 945.8 thousand tons of sinter, down by 45.8%.…

Ukraine: who owns AMK?

On March 1, 2017, the occupational authorities of the self-proclaimed Lugansk and Donetsk People’s Republics, terrorist organizations created and supported by Russia, decided to transfer all the companies on the territory controlled by them to the so-called external management. As a result, Donetsk Iron and Steel Works (DMZ), Donetskstal Iron and Steel Works, parts of…

Russia: Mechel IFRS net profit down in 2019

The net profit attributable to shareholders of the Russian metals and mining group Mechel dropped by 81%, to 2.409 billion rubles in 2019, as calculated under International Financial Reporting Standards (IFRS). Consolidated revenue decreased by 5%, to 296.567 billion rubles, while earnings before interest, taxes, depreciation, and amortization (EBITDA) went down by 29%, to 53.428…

Ukraine: duty on Russian coal good for industry

Imposition of a duty on Russian coal will have a positive impact on the Ukrainian coal industry, Acting Minister of Energy of Ukraine Vitaliy Shubin has said. “The government is taking steps to resolve the situation in the energy market. In particular, the Cabinet of Ministers adopted a resolution on the introduction of a special…