Russia: Izhstal output up in 2017

In 2017 Izhstal produced 432 thousand tons of metal, up by 14% YoY. Steel output grew by 21%, to 315 thousand tons, and rolled metal – by 3%, to 352 thousand tons. The 450 rolling mill saw the largest increase – by 46%. “The positive dynamics is the result of the increase of sales to…

Ukraine: mine in occupied Donbass explodes

An explosion occurred at the Zhdanovskaya mine in the city of Zhdanovka in the occupied Donetsk region. 2 people perished. According to the so-called ministry of accidents of the Donetsk People’s Republic, a terrorist organization created and supported by Russia, at the moment of the explosion there were 316 people in the mine. It is…

Armenia: Nigeria interested in mining cooperation

The new ambassador of Nigeria to Armenia Ibrahim Khamzat said his country was interested in developing and deepening relations with Armenia, especially in economic sphere.

In particular, he noted interest in developing cooperation in the mining sphere.

According to the ambassador, Armenia has a considerable experience in this industry. (Ukrainian metal)

Russia: TMK pipe sales up in 2017

Russian oil and gas pipe producer TMK increased pipe sales by 10.6%, to 3.806 million tons in 2017, the company said in a statement. “The year was favorable for TMK, as the company raised sales by more than 10%. OCTG pipes were in especially high demand on our major markets, in Russia and in the…

Ukraine: CGOK invests 2.8 million UAH in quarry machines lighting modernization

The Central Mining and Processing Works has finished the project to modernize the mining machinery lighting system at the Gleevatsky, Petrovsky and Artemovsky quarries. Investments totaled 2.8 million UAH. Excavators and drilling mills have been equipped with 250 energy-saving LED-lamps. The equipment has been specifically prepared for the mining operations: they are impact-resistant, vibration-resistant and…

Ukraine: large gold deposit discovered

A new large deposit of gold ore has been discovered in the Rakhov district of Zakarpatye region. According to estimates, the reserves are 2.4 tons of gold. The only operating gold deposit in Ukraine is the Muzhievskoye. It has 55 tons of gold, and 1 million tons of zinc and lead, valued at around $3.8…

Tajikistan: aluminum output down in 2017

In 2017 Tajikistan exported 103 thousand tons of aluminum valued at $203 million. According to the Customs service, the average world price last year was $1970 per ton. In 2016 Tajikistan exported 132 thousand tons of aluminum at $1590 per ton, for the total value of $210 million, In January-October 2017 TALCO decreased output by…

Russia: VTZ to increase exports

Volzhsky Pipe Works hosted a meeting with the representatives of the local authorities. The deputy governor, chairman of the industry and trade committee of the Volgograd region Roman Bekov noted the positive experience of pipe makers who occupied leading positions in exports not only in the region, but in the country as well. The works…

Ukraine: scrap provision down in 2017

In December 2017 scrap procuring companies procured 357 thousand tons of scrap, up by 12% MoM, of which 305 thousand tons were supplied to the metal companies, up by 13%, and 52 thousand tons exported, up by 8%. The scrap provision rate was 104%. In 2017 out of 3.79 million tons of scrap procured, up…

Ukraine: Fitch upgrades Ferrexpo to “B”

Fitch Ratings has upgraded Ukraine-based Ferrexpo Plc’s Long-Term Issuer Default Rating (IDR) to “B” from “B-”, reads a report on the rating agency’s website. “The outlook on the IDR is positive. In addition, Ferrexpo’s senior unsecured ratings have been upgraded to “B” from “B-”. The Recovery Rating is unchanged at “RR4”,” the report says. “The…

Russia: Polyus sets dividend minimum

Polyus, the largest gold-extracting company in Russia, has changed its dividend policy. The company Board of directors has approved the change of the dividend policy having set the minimum annual size of dividends for 2017 and 2018 on the level of $550 million. Thus, the amount of dividends for the corresponding period will total 30%…

Russia: high-strength Ural Steel rolled steel meets Russian Maritime Register of Shipping certification requirements

Ural Steel (a part of Metalloinvest) has received a certificate confirming the compliance of its heavy plate made from high-strength steel grades. This opens up new opportunities for the company in the production of high-quality rolled steel products for shipbuilding and expanding its sales market. Earlier, Ural Steel confirmed the compliance with RMRS of its…