Interpipe notes a possible decrease in output in April-September by 30-50% due to the drop of oil prices, the decrease of main oil and gas pipes consumers’ activities and the COVID-19 pandemic. “We have several scenarios of operation in Q2-3. According to our estimates, the drop in output could be 30% to 50%”, the company…
The Cabinet of Ministers intends to envisage additional UAH 1.6 billion in a draft law on amendments to the 2020 state budget regarding the financing of the coal industry, MP Oleksiy Honcharuk posted a relevant draft document on his Telegram channel. According to the document, the government intends to invest UAH 3.563 billion to restructure…
In 2019, Taganrog Iron and Steel Works decreased losses by 800 million rubles, to 1.3 billion rubles. In 2018, losses amounted to 2.1 billion rubles. At the same time, revenue also dropped. While in 2018 it was 43.8 billion rubles, last year it constituted 43.5 billion rubles. (Ukrainian metal)
In February, Korshunovsky Mining and Processing Works increased excavation work by 65% and iron ore output by 22%. In particular, iron ore extraction totaled 650 thousand tons. Concentrate is shipped to Chelyabinsk Iron and Steel Works. This year it is planned to modernize the processing factory machinery, increasing its capacity by 30%. (Ukrainian metal)
The government is ready to approve Novatek’s project of a floating power plant running on liquefied natural gas (LNG) as a power source for the Baimsky GOK ore-dressing plant owned by KAZ Minerals. The copper and gold project needs a total of up to 350 megawatts of new generation, including a capacity reserve. The construction…
Russian precious metals producer Polymetal International has raised 800 million rubles and a 1% net smelter return from the sale of assets of the Sopka field, the company said in a statement on March 26. The assets were united in company Irbychan Gold with non-core assets of the Omolonsky hub. Production at the assets stopped…
Coal-extracting companies of Kazakhstan produced 18.3 million tons of coal in January-February. 10.4 million tons of coal were shipped to energy producing companies, and industrial enterprises received 936,800 tons. 1.4 million tons were shipped for public and utility needs. 4.6 million tons will be exported. According to the Ministry of Industry and Infrastructure Development, the…
In 2019, ArcelorMittal Kriviy Rih decreased its net income from 68 billion UAH to 62.4 billion UAH. Net loss totaled 2.3 billion UAH as opposed to a net profit of 9.5 billion UAH in 2018. The extraordinary meeting of shareholders on October 10, 2019, decided to spend 10.85 billion UAH to pay dividends, or 2.81…
