Russia: Polymetal buys out Tarutinskoye Copper

Polymetal International plc has increased its share in Vostochny Bazis LLC, which has the license to work at the Tarutinskoye copper deposits, from 75% to 100%. Polymetal bought the additional 25% from Geronesa Trading Ltd. Tarutinskoye is a typical gold-copper deposit and fits Polymetal strategy of creating processing hubs. The deposits will provide raw materials…

Ukraine: Evraz Yuzhkoks replaces CEO

The supervisory board of Evraz Yuzhkoks has dismissed the general manager of the company Sergei Burylin from his office. The new CEO is now Denis Koshkarov, the director of central laboratory of by-product coke chemistry manufacture at Evraz NTMK. Koshkarov has been appointed for 1 year – from February 1, 2017 through January 31, 2018.…

Russia: Nord Gold continues maximizing shareholder value

Nord Gold acknowledges recent speculation regarding a possible delisting of the company’s global depositary receipts from the Official List and the London Stock Exchange. The Board of Directors continues to consider options for maximizing shareholder value, including a potential delisting of the company’s global depositary receipts, although no decision has been taken and there is…

Ukraine: Metinvest to invest over UAH 7 billion in the development of Kriviy Rih GOKs

In 2017 Metinvest Group is going to invest UAH 7.4 billion in Ingulets, Central and Severniy Mining and Processing Works, up 4 times YoY. By investing in GOKs the group demonstrates its commitment to ramp up production, improve product quality, cut costs, and create a comfortable working environment for its employees. Updated production equipment, overhauled…

Ukraine: AMKR thanking PM

ArcelorMittal Kriviy Rih achieved stable output in 2016 and is looking forward to further improve its performance in 2017. “ArcelorMittal Group remains committed to modernizing its operations and expanding its business in Ukraine – with plans to invest $375-400 million this year (capital and operational investments), we will help create directly and indirectly over 30,000…

Ukraine: miners come to terms with minister

The Ministry of energy and coal industry fulfills its obligations to the miners. In particular, the issue with the coal sales has been settled. Two blocks of the Zmiyev TPP will be put into operation in March-May, which will increase coal purchases. According to the energy minister Igor Nasalik, all the purchasing procedures in the…

Kazakhstan: raw zinc output up in 2016

In 2016 Kazakhstan produced 325.5 thousand tons of raw zinc, up by 0.5% YoY. The local demand increased by one third, to 38.7 thousand tons, while exports dropped by 3.2% YoY, to 259.4 thousand tons. The East-Kazakhstan region yielded the most of raw zinc – 325.4 thousand tons. Karaganda region produced 66 tons. The Kazakh…

Ukraine cannot do without occupied Donbass coal

Ukraine cannot do without the coal from the Russia-supported terrorist-occupied territories of Donbass. “As to the matter of trade with the occupied territories, well, trade is not a correct wording. There are things that are vital for our economy. For example, our power grid needs coal”, the Security Service of Ukraine chairman Vasily Hrytsak said.…

Russia: Severstal to supply 100 thousand tons of steel to household appliances producers

In 2017 Severstal plans to supply over 105 thousand tons of metal products to manufacturers of refrigerators, gas ovens, washing machines, industrial packaging, etc.

The deliveries will be carried out under the already signed quarter, half-year and year contracts with companies both from Russia and abroad. (Ukrainian metal)