Having prohibited the exports of scrap from the main Far East ports for 6 months to help Amurmetal with raw materials, the government can now take similar measures to help Abinsk Electrometallurgical Works (AEMZ). The Ministry of industry and trade intends to hold a meeting on providing AEMZ with raw materials. The authorities of Krasnodar…
Magnitogorsk Iron and Steel Works (MMK) won the XV industry competition titled “Metal and Mining Enterprises with Highly Effective CSR”. The competition participants were 61 metal and mining enterprises. For the second year in a row, MMK is amongst the winners in the category “Environmental Protection and Resource Management”. MMK’s investments in environment protection last…
The prices of the main precious metals varied in Azerbaijan on July 5, according to the data published by the Central Bank. The cost of gold decreased by 2.686 manats, to 2,133.7975 manats per ounce compared to the price on July 4. The cost of silver decreased by 0.0476 manats, to 27.2734 manats per ounce.…
S & P Global Rating believes that the Eurasian Resources Group will see a higher financial stability, and has increased its long-term rating to B from B-. Last year the group EBITDA reached $2 billion, and its free fund flow was positive ($476 million). The group was able to strengthen its positions due to FeCr…
By 2024 Seligdar intends to have increased gold output to 10 tons. According to the company development strategy, the first stage of 2018-2021 will see gold output increase to 8 tons. The second stage of 2022-2024 presupposes the commissioning of the Khvoyniy site in Yakutia with the capacity of over 2 tons of gold a…
This year Polyus Aldan intends to produce over 6 tons of gold. At present the company ore gold output accounts for 37% of the total output in Yakutia. In 2017 Kuranakhskaya gold-extracting factory processed over 4.6 million tons of ore and produced 171.5 thousand ounces of gold. In 2016 the output was 159.7 thousand ounces.…
Russia’s metals and mining group Mechel has prolonged an agreement to deliver up to 700,000 tons of premium quality coking coal to China’s Baosteel Resources until July 2019, it said in a statement on July 4. Yakutugol subsidiary will ship up to 40,000 tons every month. The price will be set monthly. CEO Oleg Kirzhov…
Evraz still supplies slabs to the United States, despite the duty of 25%. According to the Evraz vice president on finances Nikolay Ivanov, “on one hand, the products sold to the US became more expensive, while on the other, because of the duty, as expected, domestic prices have grown“. “So we are still supplying slabs…