Russia: coal exports up in Q1 2018
Coal exports in January-March increased by 6.8% YoY, to 44.42 million tons. According to the Ministry of Energy, in March coal exports reached 15.638 million tons. (Ukrainian metal)
Russia: Mechel commissions new long face at South Kuzbass mine
Mechel has put into operation a new long face 0-17-16 at the mine named after Lenin, a part of the South Kuzbass coal company. The reserves of the long face are estimated at 650 thousand tons of coking coal. Its length is 200 meters. Investments in the project totaled 230 million rubles. (Ukrainian metal)
Kazakhstan: AMT appoints new coal department director
Andrey Chernomaz, director of the Abayskaya mine, has been appointed the director of the ArcelorMittal Temirtau coal department. He started working in his new office on April 2. Chernomaz’s tasks will be to reach output targets and improve the coal and coal concentrate quality, as well as increase the efficiency of labor safety, etc. Parshant…
Russia: Moscow court keeps ISD CEO arrested
The Basmanniy Court of Moscow has prolonged for 3 months the arrest of the Industrial Union of Donbass CEO Oleg Mkrtchan accused of embezzlement. Mkrtchan will be under arrest until July 5. The case against him is connected with embezzlement of funds given to ISD by Russian banks several years ago. (Ukrainian metal)
Ukraine: price of coal from state mines increases
The Ministry of Energy and Coal Industry has increased the price of coal, mined by state enterprises, by 4.54%, or by 110 UAH, to 2535 UAH per ton (without VAT and transportation expenses) from April 2. The energy minister Igor Nasalik noted that coal witnessed the price increase from December 2017 through March 2018, and…
Ukraine: scrap export duty to increase
A decree No. 8226 has been registered in the Verkhovnaya Rada. According to one of the authors of the document, the chairman of the Parliament Committee on industrial policy Victor Galasyuk, the decree suggests prolonging the so-called metal law and increasing the export duty on scrap to 42 euro per ton. “This is equal to…
Russia: AMZ sees losses in 2017
In 2017 Asha Iron and Steel Works received 387.3 million rubles of net loss as calculated under Russian Accounting Standards, as opposed to the net profit of 98.51 million rubles in 2016. In Q4 2017 AMZ received 759 million rubles of losses, as opposed to 19 million rubles of net profit in Q3. Revenue in…
Russia: Chelyabinsk Zinc Works to finish 2018 without loss
Chelyabinsk Zinc Works plans to finish 2018 without losses, CEO Pavel Izbrekht declared on April 4. “Concerning profit of the plant in 2018, it is too early to say, everything depends on prices on the London Metal Exchange, but we plan to work without losses,” Izbrekht said. The plant’s net profit in 2017 amounted to…