Oleg Deripaska, the major shareholder of Russian aluminum giant UC RUSAL, was included in a list of candidates to a new board of directors of metals giant Norilsk Nickel, Norilsk Nickel said in a statement on April 5. RUSAL, which owns 27.8% in Norilsk Nickel, nominated a total of five people to the company’s board,…
In 2018 Mechel intends to reach coal output at the level of 23.3 million tons. “In particular, UKUZ is expected to yield 9.5 million tons, Yakutugol – 8.5 million tons and Elga – 5.3 million tons. Coking coal concentrate will total 10.7 million tons. Power-generating coal output – 5.8 million tons”, the company CEO Oleg…
The minister of energy and coal industry Igor Nasalik has called on the Verkhovna Rada to provide funds to modernize the coal industry. “Without financing and investments in modernization the coal industry will not develop. The ministry has designed a plan to reform the industry, but so far we have not found funds. If this…
The European Union decided to stop the antidumping investigation on the imports of ferrosilicon from Ukraine and Egypt. The European Commission announced the cancellation of the investigation on April 4, as the Association of European ferro-alloy Producers had revoked its application on February 27. The antidumping investigation began in August 2017. (Ukrainian metal)
The prices of gold, platinum and palladium decreased in Azerbaijan on April 6, while price of silver increased, according to the data published by the Central Bank. The cost of gold decreased by 0.646 manats, to 2257.855 manats per troy ounce compared to the price on April 5. The cost of silver increased by 0.17…
Kirov Non-Ferrous Metals Processing Works in 2017 received 26 million rubles of losses, as opposed to three years of profit. Thus, in 2016 the company received almost 130 million rubles of net profit. In 2015 and 2014 the net profit totaled 81 million rubles and 51 million rubles respectively. Revenue last year reached 8.84 billion…
Rusal has started mining for bauxites at the Verkhne-Schugorsky deposits in the Republic of Komi. The balance reserves of the new deposits total 65 million tons of ore, enough for 20 years of development. In mid-March the Vezhayu-Vorykvinskoye deposits yielded the 40-millionth ton of bauxites, and the reserves are quickly depleting. Hence, the opening of…
This year Dalpolymetall intends to mine 841 thousand tons of polymetalic ore. In particular, the increase will result from the start of the Verkhniy quarry operations. At present Dalpolymetall deposits are united into two clusters – Nikolayevsky mine with Korolevsky site and the Verkhniy quarry. Since the start of the year the company has invested…