Magnitogorsk Iron and Steel Works’ (MMK) management decided to co-finance projects implemented by the residents of MMK Industrial Park to support and enhance business development in Magnitogorsk. Co-financing will be provided on a competitive basis to create new production or expand existing production. The share of co-financing will be up to 30% of the cost…
Magnitogorsk Iron and Steel Works’ (MMK) legal team, led by Chief Legal Officer Sergey Shepilov, has been named among best corporate counsels by Legal 500, an authoritative international legal publication. The Legal 500’s GC Powerlist: Russia Teams ranking includes Russia’s most influential and innovative corporate legal counsels. The ranking is made by leading market experts.…
Employees of the Partyzanska Coal Mine in Antratsit (the town in Luhansk region occupied by Russian proxy forces), attempted to organize a strike demanding payment of wage arrears. A journalist and blogger Denis Kazansky, citing a wife of one of the strikers, described the details of the response of the self-styled “authorities”. “Our husbands went…
Russian metals producer Norilsk Nickel expects its capital expenditures to amount to $2.3-2.5 billion in 2019 and $2.3-2.6 billion a year in 2020-2022, the company said in a statement on November 19. In 2018 the capital expenditures will amount to $1.6-1.7 billion. Norilsk Nickel will spend $900 million – $1 billion on obligatory projects, including…
The main mine fan produced at the Corum Druzhkovka Machine-building Works has been put into operation at the Ingulets Iron and Steel Works. The fan will be providing the enterprise with fresh air for at least 14 years. The new fan has replaced an older version, which has been operating for 25 years. It will…
In January-October Kuzbass mined 151.7 million tons of power-generating coal and 60.1 million tons of coking coal. The combined increase was 5.2% YoY. The mines yielded 74.4 million tons of coal (72.3 million tons in 10 months of 2017) and pits – 137.4 million tons (129 million tons). In October Kuzbass mined 15 million tons…
In January-October rolled metal output grew by 2% YoY, to 51.3 million tons. In October manufacture dropped by 1.5% YoY and by 0.4% MoM. According to the Federal Service of State Statistics, Russia produced 43.1 million tons of pig iron, on par with 10 months of 2017. In October output decreased by 3.4% YoY, but…
The Russian Steel Association has decreased its forecast on steel consumption in Russia in 2018 to 1% from 2.6% in June. At the same time, for the first time since 2013 the dynamics of metal consumption stagnation has switched to the growth, which equaled to 5.1%. In 2016-2017 machine building was the main driver of…
