At Magnitogorsk Iron and Steel Works (MMK), the total economic impact of the introduction of innovative proposals amounted to 269 million rubles in the first half of 2018. In the first six months of the year 2,533 ideas were examined by expert committees. 1,857 ideas, or 73.3% of the submitted ideas (63.8% in H1 2017),…
The first stage of the modernization of the sandwich-panel production line was completed at the MMK Trading House production site in Shelkovo (the Moscow region). In early August together with representatives of the Italian company “Magma”, specialists of the company commissioned a new glue system. This equipment improves the quality of the gluing process, allowing…
The prices of precious metals decreased on August 14, according to the data published by the Central Bank. The price of gold decreased by 22.763 manats, to 2,031.9165 manats per ounce on August 14, compared to the price on August 13. The price of silver dropped by 0.3547 manats, to 25.5873 manats per ounce. The…
Russian metals giant Norilsk Nickel expects reserves of the Global Palladium Fund to stand at about 200,000 ounces at the end of 2018, CFO Sergei Malyshev said. “We have sold the bulk of the palladium fund reserves that we had at the beginning of this year. We had the reserves of 550,000 troy ounces at…
Centerra Gold Inc. (Centerra) and Kumtor Gold Company (KGC) have summed up their operating results in the second quarter of 2018. In the first six months of 2018 KGC produced 184,023 ounces or 5723.76 kg of gold and contributed more than 3.65 billion soms in taxes and mandatory payments, the Media Relations Department of the…
Volgograd Iron and Steel Works Krasniy Octyabr has paid 424 million rubles of tax debts. All the debts have been cleared in full. The non-payment of taxes to the budget has been revealed during a tax service check. The major part of the debt fell on the profit tax. (Ukrainian metal)
In July because of the 8-days long furnace repair, Kosaya Gora Iron and Steel Works produced 4.5 thousand tons of ferromanganese, down by 33% MoM and by 16% YoY. In late April due to the considerable increase of iron ore price and difficult negotiations with suppliers the works stopped producing pig iron and switched its…
NGK Resource is finishing the construction of the first stage of the mining and processing works at the Polyanka deposits in Khabarovsk region. So far the quarry has been prepared, and the crushing and sorting shop is being assembled. The company intends to get the first gold ingot by October 20 and some 300-350 kg…