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…
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%…
UC RUSAL, a leading global aluminum producer, announces the launch of pilot operation of eight new generation RA-550 pots at Sayanogorsk Aluminum Smelter. The total amount of investment in the project reached $30 million. The project to develop the technology and launch the RA-550 site at SAZ was implemented within three years. The key advantage…
Industrial Metallurgical Holding (IMH), one of the world’s leading exporters of merchant pig iron and the leading merchant coke producer in Russia, reports its operational results for FY 2017. Coking coal mined by IMH Coal division in 2017 increased to 2.83 million tons, by 28% YoY, and accounted for the absolute record for the company’s…
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…
In 2017 Evraz Dneprovsky Iron and Steel Works produced 918 thousand tons of steel, down by 13.2% YoY. The decrease has to do with the capital repairs of machinery. According to the company statement, rolled metal output decreased by 11.7%, to 785 thousand tons because of the drop in structure steel demand and the increase…
In 2017 Central Mining and Processing Works produced 2.25 million tons of pellets, down by 2.3% YoY. Iron ore concentrate output decreased by 10.6%, to 4.669 million tons. In December 2017 it produced 216 thousand tons of pellets and 397 thousand tons of concentrate, all up from 83 thousand tons and 385 thousand tons in…
In February Ukraine is expected to produce 1.8 million tons of pig iron, 1.8 million tons of steel and 1.6 million tons of rolled metal. According to Ukrmetallurgprom, in 2017 Ukraine produced 20 million tons of pig iron, 21.3 million tons of steel and 18.4 million tons of rolled metal, all down by 15%, 12%…