Buryatzoloto has increased the statutory capital of its daughter company Irokinda LLC from 10 thousand rubles to 1.142 billion rubles. The changes were made on January 28. Buryatzoloto owns 100% in Irokinda. All the active licenses have been transferred to the daughter company – for Zhanokinskaya field, Severniy site and the Irokindinskoye deposit. (Ukrainian metal)
The Polymetal board of directors has approved of a payment of special dividends for 2019 in the amount of $0.2 per ordinary share. The total amount of dividends to be paid is $94 million. The dividends will be paid on March 5 in dollars. (Ukrainian metal)
Mikhailovsky Mining and Processing Works has received a new locomotive. The machine will be used to transport cargo from the Pogruzochnaya station to the Kurbakinskaya station of the Moscow Railroad. The new locomotive helps decrease fuel consumption and has improved labor conditions. (Ukrainian metal)
In 2019 Metinvest increased steel output by 3% YoY, to 7.578 million tons. In particular, Mariupol Ilyich Iron and Steel Works increased manufacture by 321 thousand tons due to the commission of the continuous casting machine No. 4. At the same time, Azovstal decreased output by 66 thousand tons because of the pig iron production…
Russian Railways has agreed with Kazakhstan on a 65% discount on Russian coal transit to China, Deputy CEO Alexei Shilo has said at a briefing. “Since we cannot move from Kuzbass to the East via Mariinsk–Mezhdurechensk with the amount that the cargo consignors want, we have offered: let’s see how to go to Kazakhstan and…
In 2019 Metinvest increased iron ore concentrate output by 6% YoY, to 29.028 million tons. The increase was due to the growth of ore mining, machinery fleet update and the increase of its efficiency at Severniy Mining and Processing Works. In Q4 2019 concentrate manufacture remained almost unchanged QoQ, at 7.278 million tons. (Ukrainian metal)
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…
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…