Russia: Karelsky Okatysh buys new locomotive

Karelsky Okatysh Mining and Processing Works has purchased a new locomotive.

The machine, manufactured by Bryansk Machine-Building Works, will be able to save fuel expenses by 10% due to a special diesel engine.

The investment program of the company presupposes further purchases of such locomotives to replace old ones. (Ukrainian metal)

Russia: Uralelectromed non-ferrous metals alloys subsidiary to increase repair capacities

The Uralelectromed subsidiary – Manufacture of non-ferrous metals alloys – is finishing the reconstruction of the repair shop. The work started back in 2016. Not only premises, but also machinery undergoes repair and replacement. As the result of the reconstruction the shop capacities will increase, and the product range will expand. Labor conditions are expected…

Ukraine: Ferrexpo profit down in H1 2018

In January-June Ferrexpo decreased net profit by 29.6% YoY, to $152 million. According to the group statement, revenue grew by 4.4%, to $617 million. EBITDA dropped by 18.5%, to $234 million. Net debt as of June 30 decreased to $368 million from $394 million as of December 31, 2017. Sales volumes dropped to 4.798 million…

Ukraine: UGOK output down in July 2018

In July Yuzhniy Mining and Processing Works produced 1044.4 thousand tons of concentrate, down by 0.7% YoY. According to the company statement, sinter output dropped by 63%, to 56.5 thousand tons. In January-July UGOK produced 7104.6 thousand tons of concentrate and 951.1 thousand tons of sinter, all down by 0.4% and by 9% YoY respectively.…

Russia: MMK net profit up in H1 2018

In January-June MMK net profit increased by 24.7% YoY, to $671 million. Revenue grew by 16%, to $4.16 billion. EBITDA went up by 33.4%, to $1.21 billion. The group debts as of late June totaled $521 million. “The high financial results allowed the Board of directors to recommend paying $281 million of dividends for Q2”,…

Ukraine: only 4 state mines profitable

Out of 33 state mines, situated on the Ukraine-controlled territory, only 4 are profitable. On the whole Ukraine has 102 state mines, but most of them are situated on the uncontrolled territory. In January-May state coalmining decreased by 3.6% YoY, while coal cost grew by 30.5%. On July 9 Novovolynskaya mine No. 9 stopped operating…

Russia: Hiagda uranium output up in H1 2018

In January-June Hiagda overfulfilled its uranium-mining plan by 5%.

At the same time, thanks to the measures to improve manufacturing efficiency the company was able to decrease prime cost of the products by 8%.

This year the company intends to construct a high-voltage line and a road to the Kolichikanskoye deposits. (Ukrainian metal)

Russia: KSGOK output up in H1 2018

In January-June Kimkano-Sutarsky Mining and Processing Works LLC produced 1.059 million tons of iron ore concentrate, up more than 2-fold YoY.

In Q2 concentrate output grew by 53%, to 580.9 thousand tons.

Sales have also increased 2-fold, to 10.46 million tons.

All the iron ore concentrate is exported to China. (Ukrainian metal)

Russia: UGMK-Stal gets new raw materials base

UGMK-Stal has received another asset – the mining enterprise Boguslavskoye Mine Group. The enterprise mines iron ores and processes iron ore concentrates, as well as produces construction crushed stone. The enterprise possesses the Severopeschanskaya mine, a crushing factory and a number of auxiliary departments. Its annual output is 2.4 million tons of ore and 1.2…