Russia: Severstal net profit down in Q1 2019

In January-March, Severstal net profit decreased by 7.2% YoY, to $428 million.

EBITDA dropped by 6.1%, to $663 million.

Compared with Q4 2018, net profit fell by 26%, and EBITDA – by 16.5%.

The group net debt as of March 31, decreased by 30%, to $863 million. (Ukrainian metal)

Kyrgyzstan: Prime Minister instructs to suspend uranium mining in Issyk-Kul

Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev instructed to suspend work at the uranium deposit in Kyzyl-Ompol area, the Information Policy Department of the Government’s Executive Office reported. The head of the Cabinet held a meeting on the activities of YurAsia company in Kyrgyzstan. An interdepartmental working group was formed on December 31, 2018. Its participants…

Russia: Rusolovo to increase Solnechnaya factory capacity

In 2020 Rusolovo intends to complete the modernization of the Solnechnaya factory at the Festivalnoye deposit in Khabarovsk region.

Investments will reach 1.4 billion rubles.

After modernization the factory will be producing 1.2 thousand tons of tin concentrate per year. (Ukrainian metal)

Russia: Severstal-Balakovo finishes electric steel shop repair

Severstal – Bar Works Balakovo has finished scheduled capital repairs of the main and auxiliary machinery.

The cost of the repair exceeded 40 million rubles.

The repair covered machinery in the electric steel smelting shop. (Ukrainian metal)

Russia: steel output down in Q1 2019

In January-March, Russia decreased production of unalloyed steel and semi-finished products by 0.2% YoY. In March the output totaled 4.8 million tons, down by 7.4% YoY and by 0.1% MoM. According to the Federal Service of State Statistics, stainless steel manufacture dropped by 14.3% YoY, but grew by 13.4% MoM, to 14.3 thousand tons. In…

Ukraine: Makeevkoks elects supervisory board

Shareholders of Makeevkoks, situated on the Ukraine-uncontrolled territory, refreshed the supervisory board, by removing two of its members, as well as changing the auditor. The decisions were taken at the shareholders’ meeting on April 18. In particular, the shareholders have re-elected Igor Nadych and Olga Vinogorodskaya as members of the supervisory board for three years,…

Ukraine: Lvivugol miner fatally injured

On April 21, a Stepnaya mine employee of the state enterprise Lvivugol has been mortally injured.

The locomotive driver was only 32 years old.

A special commission to investigate the accident has been created. (Ukrainian metal)