Metalloinvest has started implementing the technique of fine screening at Mikhailovsky Mining and Processing Works. The use of new Derrick screens will improve the quality of the concentrate by increasing iron contents from 65% to 67%, while decreasing the content of silicon dioxide. Investments in the project by the end of 2022 are estimated at…
The net profit of the Russian coal producer Raspadskaya rose by 34% YoY, to $225 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on August 24. Revenue went up by 23%, to $542 million in the period, and gross profit grew by 27%, to $306 million.…
International rating agency Fitch has affirmed a long-term issuer default rating and senior unsecured ratings of Russian metals holding Metalloinvest at BB, and revised the outlook on ratings to Positive from Stable, the agency said in a statement late on August 23. “The outlook revision reflects continued financial improvement, recovery on the global iron ore…
The prices of precious metals, except for palladium, decreased on August 24, according to the data published by the Central Bank. The price of gold decreased by 11.6705 manats, to 2,019.702 manats per ounce on August 24 compared to the price on August 21. No prices of precious metals were set on August 22 and…
Centerra Gold Inc. has agreed with the government of the Kyrgyz Republic to further extend the First Longstop Date under the Strategic Agreement for Environmental Protection and Investment Promotion previously entered into with the government of the Kyrgyz Republic on September 11, 2017. The First Longstop Date is the date by which all conditions precedent…
The ABB Ability MineOptimize solution will increase the output capacity of KAZ Minerals works. ABB has won a tender to supply a complex solution to electrify and automate the new processing factory at Aktogay. This is the third major order from KAZ Minerals to ABB. The ABB order is a part of the expansion project…
The Rusburmash Company has finished drilling to carry out prospecting works at the Kolichikanskoye deposits in the Republic of Buryatia. The start of the uranium mining is scheduled for 2020. This is the fourth deposit to be developed by Khiagda. At present the company is developing Khiagdinskoye and Istochnoye deposits, as well as carrying out…
Korshunovsky Mining and Processing Works is commissioning a new drilling rig at the Rudnogorsky mine. The machine has been purchased under the program of capital investments. At present the machine is being assembled. The company has 14 days to assemble the rig, after that it will be commissioned. (Ukrainian metal)