Russia: Elgaugol output up in Q1 2018

In January-March Elgaugol LLC mined 1.2 million tons of coal, up by 43% YoY. Coal processing increased by 21%, to 585 thousand tons. Sales totaled 962 thousand tons, up by 47%. “This year we had a good manufacturing start. The quarter results became the logical continuation of the successful operation last year”, the company managing…

Russia: Rusal switches from dollar to euro

Rusal has implied an emergency plan and asks its customers to pay in euros, not dollars, thus trying to avoid US sanctions. “The company has started a protection plan, just like Iran”, a source reported. Some years ago Iran used gold, oil and Japanese yen to pay for goods. Several Rusal clients have already started…