Russia: UMMC buys 97% of ChTsZ stake

Ural Mining and Metallurgical Company has increased its share in Chelyabinsk Zinc Works to 97.714%.

Last year ChTsZ produced 174.803 thousand tons of zinc and alloys as opposed to 171.002 thousand tons in 2015. (Ukrainian metal)

Russia: Ferrum to increase pipe range

Ferrum has received the new pipe-welding mill. The mill produces thin-walled cold-rolled pipes with 0.5-1.6 mm wall thickness. This will be a unique product for Novosibirsk region. The mill will be put into operation in late May. Ferrum started producing electric-welded pipes in 2015. It has 3 mills with the total capacity of 15 thousand…

Russia: metal exports down in Q1 2017

Metal railroad exports in January-March decreased by 6.3% YoY, to 7.07 million tons, imports increased 3.9-fold, to 160 thousand tons. Railroad metal throughput in Q1 dropped by 4.7% YoY, to 7.23 million tons. Railroad metal delivery to port Novorossiysk for exports dropped by 12.2%, to 2.6 million tons, Tuapse – by 0.7%, to 560 thousand…

Ukraine: Ferrexpo ratings up

Moody’s international ratings agency has improved Ferrexpo plc corporate rating from Caa3 to Caa2. Default risk rating has been increased from Caa3-PD to Caa2-PD, while its bonds from Caa3 to Caa2. The outlook on all ratings is stable. In 2016 Ferrexpo, which controls Poltava and Yeristovo Mining and Processing Works, received $189.2 million of net…

Ukraine: industrial companies improving Kryvbas water basin

PJSC ArcelorMittal Kriviy Rih hosted the meeting devoted to development of strategic approaches for improvement of the ecosystem of Ingul river basin within the Program to support the green modernization of the Ukrainian economy being implemented by German Society for International Cooperation “GIZ”. The main objective of the informative meeting was to find the efficient…

Ukraine: AMKR obtains patent for elaborated method of practical use of steelmaking by-products in agriculture

PJSC ArcelorMittal Kriviy Rih obtained a patent of Ukraine for elaborated method of practical use of steelmaking by-products in agriculture. Copyright protects the method of steelmaking slag usage as a fertilizer (ameliorant) for deoxidization of acidic soils and increase of harvest level of various agricultural crops. Development and application of a new method of soils…

Ukraine: military prosecutors propose to halt foreign economic operations of Crimean Titanium

The military Prosecutor General’s Office of Southern region of Ukraine has proposed to the Economic Development and Trade Ministry of Ukraine to impose sanctions on Ukrainian Chemical Products (earlier Crimean Titanium, a part of Dmytro Firtash’s Group DF) in the form of temporary suspension of foreign economic operations, the ministry has reported on its website.…

Ukraine: Metinvest credit ratings upgraded following successful debt restructuring

Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (“Metinvest”), announces that following the successful debt restructuring completed in March, international rating agencies Moody’s Investors Service (“Moody’s”) and Fitch Ratings (“Fitch”) have both upgraded Metinvest’s credit ratings to ‘Caa2’ (‘stable’ outlook) and ‘B’ (‘stable’ outlook), respectively. According to a…

Russia: Kraszvetmet market share up in 2016

In 2016 Kraszvetmet revenues totaled 19 billion rubles, with net profits at 432 million rubles.

Sales volume remained on the 2015 level.

The company shares on most of the markets showed growth in 2016: by 65% on gold, by 60% on silver and by 97% on platinum. (Ukrainian metal)

Ukraine: Metinvest denies buying DMK

Metinvest denies information in mass media of buying Dneprovsky Iron and Steel Works, a part of the Industrial Union of Donbass. The group also reported canceling all its labor connections with employees on the uncontrolled territories, including the ex-CEO of Yenakievo Iron and Steel Works Alexander Podkorytov. “The contract with Podkorytov has not been prolonged.…

Ukraine: Metinvest pays 14 billion UAH of taxes in 2016

In 2016 Metinvest paid over 14.1 billion UAH of taxes to budgets of all levels.

According to the company statement, despite the increase in expenses and tariffs, as well as infrastructure problems and the ongoing military activity, the group was able to keep taxes paid on the level of 2015. (Ukrainian metal)

Ukraine: Volynugol bankruptcy stopped

The Rovno commercial court of appeals has cancelled the ruling of the Commercial court of the Volyn region dated February 21, which initiated the bankruptcy of the state-run Volynugol. The state enterprise has been in the process of going bankrupt since March 2. The appeal on the bankruptcy ruling was filed by the Ministry of…

Russia: Vorkutaugol starts working on two new faces

Vorkutaugol, a part of Severstal, has put into operation two new long faces at the Vorkutinskaya and Komsomolskaya mines.

The Vorkutinskaya long face reserves are estimated at 468 thousands tons of coal. The mining will be carried out until November.

The Komsomolskaya face has 856 thousand tons of coal, enough till March 2018. (Ukrainian metal)

Armenia to construct a magnesium works

Armenian scientists are working on the new technique to produce magnesium. According to Vagan Lalayan, the head of the Ministry of economical development and investments department of investment policy, their partner is the Ecoatom company. “The company wants to construct a works to produce 1 thousand tons of magnesium per year. There are many ways…