Russia: Rusal given BB- Stable rating by Fitch

The international ratings agency Fitch Ratings has granted Rusal the long-term rating of BB- with the stable outlook. Rusal has been operating successfully even under US sanctions. Moreover their impact was limited and their implementation had been several times postponed, thus the company did not feel the overall impact of the sanctions, Fitch said. (Ukrainian…

Russia: KGOK net profit down in 2018

In 2018 Korshunovsky Mining and Processing Works decreased net profit more than 2-fold YoY, to 2.33 billion rubles.

In 2017 net profit exceeded 4.7 billion rubles.

Last year revenue dropped by 13%, to 9.99 billion rubles.

Sales profit fell to 330 million rubles from 2.2 billion rubles in 2017. (Ukrainian metal)

Ukraine: coal deal showcases lack of transparency

Ukraine’s police are investigating two companies and a factory over a coal deal, which some anti-corruption campaigners say epitomizes the difficulties of doing business in the Eastern European country. The sums involved in the deal are small but the Anti-Corruption Action Center, an independent watchdog, says it illustrates the lack of transparency in Ukrainian business,…

Russia: Amur Zoloto produces 153 kg of gold

Amur Zoloto LLC, developing gold sites in Khabarovsk region, in January-February produced 152.8 kg of gold. In particular, the Yubileyniy Mining and Processing Works at the Krasivoye deposit processed 16.4 thousand tons of ore and 1.3 thousand tons of concentrate. Gold output totaled 152.1 kg and silver – 141.1 kg. Another site – the Brekchievaya…

Russia: Raspadskaya net profit up in 2018

In 2018 Raspadskaya increased net profit by 50.57% YoY, to 27.9 billion rubles.

Revenue grew by 34%, to 68 billion rubles.

Combined output went up by 11%, to 12.7 million tons. (Ukrainian metal)