Kazakhstan: Kazzinc to invest 1.2 billion tenge in Zhairem settlement development

Kazzinc, JSC Zhairem Mining and Processing Integrated Works and administration of Karaganda region have signed a memorandum of mutual cooperation for 2017. In order to settle the key problems outlined by the president in the country’s program documents, Kazzinc has allocated 1,265,076,000 tenge for the implementation of social projects in Zhairem urban-type settlement of Karaganda…

Kyrgyzstan: only one company exporting gold ore

Only one company – Vertex Gold – exports gold ore from Kyrgyzstan, Head of the State Committee for Industry, Energy and Subsoil Use Duishenbek Zilaliyev stated at the meeting of the Committee on Constitutional Legislation, State Structure, Judicial, Legal Issues and Regulations of the Parliament of Kyrgyzstan. According to him, the export of ore issue…

Ukraine: Metinvest pays $9 million premiums for support of Eurobond restructuring

Metinvest mining and metallurgical group on April 24, paid bonuses for supporting Eurobond restructuring, the group said on the website of the Irish Stock Exchange (ISE). The press service of Metinvest reported that the amount of payment was about $9 million. In late May 2016, Metinvest and the creditors’ committee agreed Eurobond restructuring and PXF…

Russia: EEC launches new antidumping investigation of Chinese pipes

The Eurasian Economic Commission (EEC), an executive body of the Eurasian Economic Union (EAEU), has launched a second antidumping investigation of imports of cold-rolled stainless seamless pipes from China, the commission said in a statement. The investigation was launched on request from Chelyabinsk Pipe Works (ChelPipe), Pervouralsk New Pipe Plant, and TMK-INOX, a subsidiary of…

Russia: Rusal wants VEB to finance KhAZ 2

Rusal intends to attract the VEB financing to the project of the new manufacturing complex construction at Khakassk Aluminum Works. “We envision VEB financing at 70 by 30. The total cost of the project is 130 billion rubles, it will be constructed in stages”, Rusal CEO Vladislav Soloviev said. “We want KhAZ 2 to produce…

Ukraine: coal output down in Q1 2017

In January-March Ukraine mined 6.7 million tons of coal, down by 11.3% YoY. According to the State Statistics Service, in March coal output dropped by 17.7% YoY, to 2 million tons. In January-February coal output increased by 11.3% YoY, or by 750.8 thousand tons, to 7367.9 thousand tons. Coking coal output dropped by 24.2%, or…

Russia: Polyus gold output up in Q1 2017

Russia gold producer Polyus increased gold output by 17% YoY, to 450,000 ounces in January-March, the company said in a statement on April 24. Income from sales rose by 19% YoY, to $600 million, with an average sales price of $1,258 per ounce, 3% higher than the London Bullion Market Association (LBMA) spot price. (Prime/Ukrainian…

Russia: ChMK profits up in Q1 2017

In January-March Chelyabinsk Iron and Steel Works, a part of Mechel, received 950.3 million rubles of net profits, up 2.3-fold YoY.

The company revenue increased by 42% YoY, to 30.333 billion rubles.

Sales reached 862 thousand tons, up by 1.6% YoY. (Ukrainian metal)

Russia: VSMPO-Avisma profits up in 2016

In 2016 VSMPO-Avisma received 25.4 billion rubles of profits, up by 9 billion rubles YoY.

The corporation revenue totaled 89.4 billion rubles, up by 13.4% YoY. The net cash flow reached 35.7 billion rubles as opposed to 27.9 billion rubles in 2015. (Ukrainian metal)

Russia: Evraz to increase rail deliveries

In 2017 Evraz will supply some 700 thousand tons of rails, including 240 thousand tons of 100-meter rails to the Russian Railroads. The delivery of longer rails will increase by 60% YoY. Rails at the order of the Russian Railways are produced at Evraz ZSMK and NTMK. In January-March they have already supplied the railways…

Russia: UEM to increase investments

In 2017 Uralelectromed will increase its investment program 1.8-fold YoY, to 4 billion rubles.

Construction of industrial objects and the development of heat and electricity generation will see the most investments.

The key project is the construction of the second stage of copper electrolyses shop. (Ukrainian metal)

Ukraine: VostGOK purchases to be checked

The Ministry of energy and coal industry of Ukraine initiates an audit of foreign purchases of uranium concentrate by the state enterprise Vostochniy Mining and Processing Works. According to the prosecutor of the specialized anticorruption prosecutor’s office Igor Symkiv, under the criminal case of Nikolai Martynenko the energy minister Igor Nasalik has been questioned and…

Ukraine: Martynenko suspected of VostGOK money embezzlement

The ex-people’s deputy Nikolai Martynenko is suspected of embezzling money of the state enterprise Vostochniy Mining and Processing Works. “The investigation showed that in 2013-2016 the employees of VostGok, Steuermann Investitions und Handelsgesellschaft mbH, as well as some individuals with control over the companies, including Martynenko, embezzled the funds of VostGOK in the amount of…