Kuzbassrazrezugol intends to construct 2 processing factories – at the Bachatskiy and Krasnobrodksy open pits. According to UGMK-Holding LLC CEO Andrei Kozitsyn, the project will start after 2020, when the processing factory at the Taldinsky open pit is commissioned. “Thus we will be processing all the coal we mine. In 4 years we will be…
NLMK will construct another continuous-casting machine to replace the one, operating since 1976. SMS group will supply all the necessary machinery. The capacity of the new CCM will be 2 million tons per year. The new machine will allow NLMK producing billets with the thickness of 400 mm and width of 2800 mm. The CCM…
The prices of main precious metals decreased in Azerbaijan on May 21, according to the data published by the Central Bank. The cost of gold decreased by 6.8755 manats, to 2189.753 manats per troy ounce compared to the price on May 18. The cost of silver decreased by 0.0497 manats, to 27.8482 manats per ounce.…
ArcelorMittal Kriviy Rih railroad shop resumed operation after a 3-day strike. According to the union, the management agreed to increase the wages to the railroad employees: to 18 thousand UAH to locomotive drivers, 15 thousand UAH to their assistants and 14 thousand UAH to shunters. At the same time, employees of the mining department railroad…
Russian aluminum giant UC RUSAL has not received a notification of resignation of Oleg Deripaska, the company said in a press release on May 21. “As at the date of this announcement, the company has not received any formal resignation from Mr. Deripaska,” RUSAL said. On May 18 En+ Group announced resignation of Deripaska from…
The London Metal Exchange (LME) plans to lift a ban on trading of some products of Russian aluminum giant UC RUSAL that was introduced earlier due to the U.S. sanctions, Bloomberg reported on May 21 citing Hong Kong Economic Journal. LME is currently in talks with the government to study a possibility of trade of…
Last week, the price of one ounce of gold in Azerbaijan decreased by 52,343 manats or by 2.3336%. Accordingly, the average price of one ounce of gold stood at 2,211.7221 manats. The price of one ounce of silver decreased by 0,499 manats or by 1.7572%, to 27.97428 manats. The price of one ounce of platinum…
In 2018 Polymetal Int plans to obtain 16.3 tons of gold equivalent in Magadan region. In Q2 the group intends to resume the seasonal operation of the Birkachan heap leaching site. According to the company CEO Vitaliy Nesis, by 2020 output will have increased due to the commissioning of the new mine at the Teploye…