Russia: MMK-Metiz net profits up in 2017

In 2017 MMK-Metiz increased net profits 3.4-fold, to 1.26 billion rubles, In Q4 2017 the company received 170.8 million rubles of profits, down from 393 million rubles in Q3 2017. In Q4 2017 MMK-Metiz sold 5.28 billion rubles worth of metal wares, down by 5% QoQ. Consolidated revenue in 2017 totaled 20.456 billion rubles, up…

Ukraine: scrap prices to drop

The state enterprise Ukrpromvneshexpertisa forecasts that by mid-April the price of ferrous metals scrap will drop by 3.5%, to some 8.3 thousand UAH per ton, compared with late March. According to the company deputy director Yuri Dobrovolski, the drop will have to do with the downgrading trends on the world markets, as well as the…

Georgia: one dead in mining accident

A miner died last night during underground works in Shukruti mine in the village of Chiatura – a city in the western Georgian region of Imereti. The mining accident claimed the life of 45-year-old Zaza Abramishvili at around 3 am. Georgian American Alloys, the company responsible for the mine, said in a statement that part…