Russia: Nordgold postpones LSE delisting

Gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, has postponed delisting from the London Stock Exchange (LSE) to March 16, from Thursday to synchronize the delisting with closing of a buyback offering, the company said in a statement. Nordgold may acquire global depositary receipts (GDRs) from minority shareholders for $118 million, or $3.45…

Russia: Olcha deposits to increase gold output

Olcha gold-silver deposits have supplied the first batch of ore to processing works. All the roads were constructed last year. “This is a very ambitious project. And the implementation of new projects in precious metals mining confirms the fact that Magadan region is firmly moving forward, increasing gold and silver output from year to year”,…

Ukraine: Stepnaya mine resumes operation

Mine No. 10 Stepnaya of Lvivugol resumed operation.

According to Lvivugol, coal is mined in normal mode.

Emergency rescuers are present at the mine.

On March 2, following the explosion 8 miners perished and 20 were rushed to hospital. (Ukrainian metal)

Ukraine: Minerfin and Zaporizhstal to continue investing into ZZhRK development

Minerfin (Slovakia) and Zaporizhstal will not stop investing into the Zaporozhye Iron Ore Complex. “Despite the very difficult situation – two years ago iron ore world prices dropped sharply – we still carried on investing in the construction of the grinding complex. I hope the development of the enterprise will not stop, and together with…

Russia: cobalt and nickel output down in January 2017

In January raw cobalt production in Russia decreased by 7.9% YoY and by 0.5% MoM.

According to the Federal Service of State Statistics, raw nickel output dropped by 40.7% YoY and by 27% MoM. (Ukrainian metal)

Russia: Sberbank selling Aluminum Works

The Siberian bank of Sberbank has put on sale at Avito.ru the Aluminum Castings Works in Barnaul, Altai region. The bank is selling 4 manufacturing premises, roads and railroads. Three shops are leased. There is also electricity enough for a large industrial enterprise, gas, water and heating. The size of the works is 40.657 thousand…

Russia: NLMK cash flow up in 2016

In 2016 NLMK Group increased its EBITDA profitability by 25% YoY and its free cash flow by 9%, to $1.1 billion. According to the company statement, its revenue reached $7.64 billion. EBITDA remained flat at $1.94 billion. Investments dropped by 6%, to $559 million. The net debt of the group decreased to $0.69 billion. (Ukrainian…

Russia: Meta Group scrap sales up in 2016

In 2016 Meta Group, a part of ChTPZ, sold 1.354 million tons of scrap, up by 4% YoY, with 760 thousand tons being the group procured scrap, and 594 thousand tons – transit scrap. Meta-Perm demonstrated the growth of 6.1 thousand tons, Vtorchermet – 10.6 thousand tons, Meta-Chelyabinsk – 17.1 thousand tons, and Meta-Yekaterinburg –…

Ukraine: ZZhRK reaches 68 million tons ore horizons

Zaporozhye Iron Ore Complex has gained access to ore reserves of 68 million tons.

The construction of the new grinding complex and the new ore deposits will create 152 new jobs.

In 2012-2016 ZZhRK invested over 1.86 billion UAH into development and modernization. (Ukrainian metal)