Polymetal shareholders have supported selling Russian assets. In February, it became known that Polymetal had agreed to sell its Russian part of business to Mangazeya for $3.69 billion. The latter will receive 100% of Polymetal JSC. The deal is expected to be closed until the end of March. Polymetal has also demanded that until the…
An UAV has attacked a Severstal steel plant in Cherepovets, Russia. An explosion was heard in the city. Local Telegram channels reported that in the early morning of March 7 there was an explosion at the plant, heard by many citizens. The Severstal press service at first said there was a “technological accident at blast…
Police are investigating the theft of more than 3 kilometres of copper cables from U.S. Steel Kosice steelworks. Kosice police spokeswoman Lenka Ivanova said various types of copper cables with a total length of 3,080 metres were taken along with plumbing components, transformers, wheelbarrows and other construction material. Total damages related to the theft, which…
The Repair-Mechanical Metal-Rolling Plant, an ERG Service subsidiary, has mastered the manufacture of a new product – milling balls with the diameter of 30 mm. Such balls are used at processing factories to crush ore to the required fraction. The first batch of 100 tons will be sent to the industrial complex of SSGPO for…
In 2023, Ukraine produced 495.6 thousand tons of pipes, up by 10.2% YoY. According to Ukrtruboprom, Interpipe Niko Tube increased output by 13.3%, while Trubostal decreased by 42.5%. Ukrtruboisol increased manufacture of electric welded pipes by 43.8%, while Interpipe NMTZ decreased by 53.8%. Centravis increased stainless pipes production by 11.7%, while Oscar decreased by 30.5%.…
Thanks to the attack of an unmanned aerial vehicle, a fuel tank was blown up on the territory of Mikhailovskiy Mining and Processing Works in Kursk region. There were no casualties. MGOK named after Varichev is one of the largest iron ore extractor and processor in Russia. The enterprise is owned by Metalloinvest belonging to…
Kumtor Gold Company in Kyrgyzstan produced 15.567 tons of gold in 2023. According to the company, it sold 15.577 tons of gold last year. Kumtor Gold Company’s revenue from production activities in 2023 amounted to $849 million, surpassing the planned revenue of $734.2 million. The net profit reached $302.4 million, exceeding the planned $194 million.…
Following the drop in prices on global markets, Ukraine should also expect the decrease in ferrous scrap prices within weeks, economist Oleksiy Kusch has said. “Global prices for scrap have been falling since late January, by $3-5 per ton every 4 days. Thus, while on February 1 the price was $422 per ton, now it…