Rusal has received a permission from ING Bank to change the payment currency from dollars to euros on the loan attracted on April 6, when it fell under the US sanctions. ING is an agent on the loan under the pre-export financing agreement for $2 billion dated May 24, 2017. The term of Rusal annual…
In October NLMK-Ural received 186.3 thousand tons of scrap via railroad. According to railroad statistics, this is up by 4.5% YoY. In January-October scrap deliveries to NLMK-Ural grew by 3.3% YoY, to 1.47 million tons. (Ukrainian metal)
In October direct scrap deliveries to MMK totaled 283.5 thousand tons, down by 12.9% YoY. According to the railroad statistics, in 10 months deliveries reached 1.65 million tons, up by 0.3% YoY. Since 2012 the company has been a leader in scrap purchases via railroad. (Ukrainian metal)
The Service Company Severo-Zapadniy Pipe Works LLC (Saint Petersburg), earlier declared bankrupt, ceases existing. According to local mass media, the demolition of the premises has started. Earlier the land plot of 6.7 ha has been sold to Setl Group for housing construction. SZTZ used to produce water and gas pipeline pipes as well as hollow…
VSMPO-Avisma is preparing to commission two Bost vertical turning and boring machines. They are assembled in the shop No. 2 and will be used to process bulk parts – billets with the length of 5 meters and rings with the diameter of 4 meters. So far the shop had to sent bulk components to the…
The Magnitogorsk Iron and Steel Works’ (MMK) strategy for the coming years is further investment in the modernization of equipment in order to improve efficiency and reduce the environmental burden, according to MMK’s Head of Procurement and Marketing Evgeny Sarana. Speaking in Moscow at the 21st “Russian Metal Market” International Conference on November 12, he…
NLMK Group, an international steel company, announces the appointment of Shamil Kurmashov as NLMK Group CFO, effective from November 15. Kurmashov will be in charge of coordinating the work of financial departments across all NLMK Group companies, supporting the execution of the new strategic cycle of the group leading up to 2022, and driving the…
A significant increase has been recorded in gold mining due to the optimization of operational processes on the part of AzerGold CJSC, the company said in a statement. In particular, in the first ten months of 2018 the gold production amounted to 36,632 ounces, thereby exceeding the last year’s figures. In general, the AzerGold CJSC…
