Russia: NLMK IFRS net profit up in 2017

The net profit of Russian steelmaker NLMK jumped by 55% YoY, to $1.45 billion in 2017, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on February 20. Revenue grew by 32%, to $10.065 billion due to an increase in average prices for metals products, a growth of sales volumes,…

Kazakhstan: gold output up in January 2018

In January Kazakhstan’s production of raw gold and semi-processed gold, or in powder form, increased by 8.7% YoY and amounted to 5,978 kg. According to the Statistics Committee of the Kazakh Ministry of National Economy, in the reporting period the production of raw silver and semi-processed silver, or in powder form, was equal to 59,644…

Kazakhstan: metal works to be built in SKR

Within the Industrialization map the South-Kazakhstan region will carry out 20 projects valued at 40 billion tenge. As the result, some 1500 jobs will be created, and the volume of industrial output will reach 920 billion tenge. In particular, according to the region governor Zhanseit Tuymebayev, a metal works will be constructed. Investments will total…