The gold-extracting company Petropavlovsk has concluded an agreement with Gazprombank for the delivery of 96 thousand ounces of gold. The deliveries will be prepaid. “This forward contract with Gazprombank provides us with much flexibility in working capital management”, Petropavlovsk finances director Andrei Maruta noted. As of late 2017 Petropavlovsk had forward contracts for the delivery…
Beloretsk Iron and Steel Works is testing new excavator ropes with polymer coating. This is a new investment project to produce multistrand ropes, including with polymer coating. In December BMK will put into operation new machinery – a rope machine and an extrusion line. Thus, the company will be able to produce ropes with 6-12…
In January Russia increased aluminum billets exports by 50.8% YoY, to 301.6 thousand tons. According to the customs statistics, the revenue grew by 98.6%, to $602 million. This is the record for the past several years. The average price of aluminum in January was $2000 per ton FOB Russian border, up by 3.6% MoM and…
The cost of gold, silver, palladium and platinum decreased in Azerbaijan on March 28, according to the data published by the Central Bank. The cost of gold decreased by 17.68 manats, to 2283.882 manats per troy ounce compared to the price on March 27. The cost of silver decreased by 0.34 manats, to 28.1112 manats…
Belarusian specialists are examining a promising gold-bearing site in Sudan, Vasily Kolb, Deputy Head of the Central Office for Natural Resources, Head of the Geology Office of the Belarusian Natural Resources and Environmental Protection Ministry, declared on March 28. The agreement to allow Belarusian specialists to search for and extract gold in Sudan was reached…
This year Kuzbass Fuel Company intends to increase coal mining by 21% YoY, to 15.9 million tons. In 2017 coal output grew by 13% YoY, to 13.2 million tons. Investments in the development will reach 3 billion rubles, including 1.4 billion rubles in the purchase of mining machinery. The company will also finance social programs…
In 2017 Interpipe Novomoskovsk Pipe Works decreased net losses by 48.5% YoY, to 120.281 million UAH. According to the company statement, its undistributed profit as of the end of 2017 totaled 359.17 million UAH. The company current liabilities dropped by 5.9%, to 1.629 billion UAH, while fixed liabilities grew by 11.3%, to 62.743 million UAH.…
The Space Heroes Mine Group, a part of DTEK Pavlogradugol, was the first in Ukraine to have mined 1 million tons of power-generating coal since the start of the year. The high yield is the result of the 2-fold increase of capacity at the mine. This has become possible due to the modernization of the…
