Russia: Polyus SPO volume at $879 million

The volume of Russian gold producer Polyus’ secondary public offering (SPO) amounted to $879 million taking into account the option of oversubscription or $799 million without this option, the company said in a statement. Polyus said earlier its board of directors set the SPO price at $66.5 per share. Around 9% of the company’s shares…

Ukraine: coal imports from US to destroy industry

The import of coal from USA will ultimately destroy Ukrainian industry because of the high tariffs on electricity manufacture. “The increase of coal price will affect tariffs for industry, not to worsen the social tension, which is high anyway. All of us will be affected indirectly, as the prices will rise”, the energy expert Valentin…

Ukraine: Interpipe hit by hacker attack

Interpipe was among the companies, hit by the cyber attack on June 27. According to the company statement, at present the manufacturing and shipping processes operate in normal mode. “Some non-critical IT-services have been damaged, in particular postal client. As of early June 29 some of them have been restored”, the company said. Because of…

Ukraine: US coal to arrive by July 2017 end

The first 120 thousand tons of coal from the USA will arrive in Ukraine by the end of July, Ukrenergo acting head Vsevolod Kovalchuk noted.

According to him, Ukraine and the USA have already clarified all the conditions of the deal on purchasing American coal. (Ukrainian metal)

Ukraine: Turkey not accepting Crimean scrap

Turkish ports refuse to accept ships with scrap coming from Crimea. “As to the scrap bound for Turkey, we see that the country does not accept the ships. Ship owners ask us not to fine them”, the acting director of the Crimean seaports “state enterprise” Yuri Chernenko declared. In late October last year Turkey resumed…

Russia: HERGU gets 114 kg of gold

The gold-mining company HERGU has so far obtained 114 kg of alluvial gold.

This year the company intends to yield 700 kg, down by 40 kg YoY.

In 2015 HERGU obtained 675 kg of gold. (Ukrainian metal)

Russia: CherMK increases CHG capacity

Cherepovets Iron and Steel Works has improved the output of the continuous hot galvanizing machine in its plating shop No. 1.

The machine speed was increased to 180 meters per minute.

With the improved operation the shop has already produced 4 coils of galvanized metal with the total weight of 100 tons. (Ukrainian metal)

Ukraine: EMZ to put second BF in operation

Yenakievo Iron and Steel Works, “nationalized” by the so-called Donetsk People’s Republic, a terrorist organization created and supported by Russia, intends to put its second blast furnace in operation in July.

The head of the local terrorists Alexander Zakharchenko has also promised to solve the coking coal sales problem. (Ukrainian metal)

Azerbaijan: AzerGold gets over $20 million from export of gold and silver

Azerbaijan’s AzerGold CJSC sold a batch of gold and silver on the world stock exchange, gaining profit worth $20.905 million (35.6 million manats). “72 gold-silver alloys extracted by AzerGold at the Chovdar mining complex processing gold-bearing ores in Azerbaijan’s Dashkesan district were sent for refining to the world-renowned Argor-Heraeus gold refinery in Switzerland,” AzerGold said…

Russia: Ormet to start mining Luchistoye ore

In the second half of the year Ormet, a part of Russian Copper Company, will start mining for chalcopyrite ores at the Luchistoye deposits in the Orenburg region. The company has already started constructing the quarry with the capacity of 55 thousand tons of ore per year. The deposits reserves are estimated at 112 thousand…

Kazakhstan: AMT invests 3 billion tenge in sinter machine No. 3 repairs

ArcelorMittal Temirtau has put into operation its sintering machine No. 6 after an overhaul.

The company spent some 3 billion tenge on repairs.

The overhaul was carried out in 75 days.

Last year AMT repaired its sintering machine No. 7. Next year sintering machine No. 5 will be repaired. (Ukrainian metal)

Russia: ZTZ partners with POSCO

Zagorsky Pipe Works and POSCO have become strategic partners. According to ZTZ press-service, the companies have signed an agreement on the delivery of rolled sheet for the manufacture of large diameter pipes. The decision to become partners has been taken after POSCO supplied 10 thousand tons of X70 steel sheets in March-April. ZTZ specialists liked…