Kazakhstan: gold output up in 2017

In 2017 Kazakhstan produced 85029 kg of gold, up by 13.8% YoY.

According to the Ministry of the national economy, silver output dropped by 10.8%, to 1058605 kg. (Ukrainian metal)

Russia: Mechel borrows 1.44 billion rubles from ChMK

Mechel has concluded an agreement on borrowing 1.44 billion rubles from Chelyabinsk Iron and Steel Works.

The agreement was signed on January 15 and is valid through October 1, 2022.

The interest rate on the loan is not revealed. (Ukrainian metal)

Ukraine: Dneprometiz to increase output in 2018

In 2017 Dneprometiz operation was stable, according to the company CEO Alexander Yakovlev.

Last year the company produced and sold over 85 thousand tons of metal wares. EBITDA totaled $3 million.

This year the company intends to increase output to 90 thousand tons.

EBITDA is expected to grow to 90 million UAH. (Ukrainian metal)

Russia: StavStal to construct blast furnace

Last year the Nevinnomyssk-based StavStal unexpectedly became insolvent. “StavStal was created in 2011. It was working perfectly, but it did not return its debts to Sberbank. The bank demanded payment, but the company did not have enough funds. At first we attracted an Indian investor. They invested $5 million, but did not get anything in…

Russia: MMK starts constructing sinter factory

Magnitogorsk Iron and Steel Works is finishing the preparatory works at the new sinter factory construction site: the builders are making foundation and assembling metal structures. In March they intend to start assembling the main machinery. Investments will total around 22 billion rubles. Construction started in December 2016. The first object of construction was the…

Ukraine: Surgay Mine orders 1.8 million UAH worth of goods

The state enterprise Mine named after Surgay has concluded agreements on the delivery of goods valued at 199,999 UAH each at the total amount of 1.8 million UAH.

As the expected price of each purchase was below 200 thousand UAH, the enterprise was allowed not to hold the open trade. (Ukrainian metal)

Ukraine: miners preparing to strike

In the town of Ukrainsk (Donetsk region) miners from the Ukraina mine of the state enterprise Selidovugol have made a preliminary strike and are preparing for mass actions because of the non-payment of salary. “On January 15 the first shift of the miners didn’t come to the work, a part of the second and third…

Russia: UEM gets new non-ferrous alloys mills

“Non-Ferrous Metals Alloys Manufacture” of Uralelectromed has received new machinery valued at 10.5 million rubles. In particular, hydraulic forming machines have been supplied from Turkey and vertical milling machine – from Belarus. The new machinery will improve productivity and increase product range. The purchase of the new mills was presupposed in the program of modernization…

Russia: Brazil to impose duty on steel

Brazil Steel Institute (IABr) has called unacceptable the technical report of the Ministry of Finances on antidumping measures to steel imports from Russia and China. According to the ministry the final antidumping measures will negatively affect local customers, which would face short-term difficulties when making their delivery chains. Moreover the antidumping duties will result in…

Russia: MMK starts modernizing section rolling mills

Magnitogorsk Iron and Steel Works (MMK) has signed an investment contract with Italian company Danieli & Officine Meccaniche S.p.A. to modernize MMK’s rolled section workshop’s double-strand mill No. 170. The value of the contract for the supply of technical documentation, equipment, installation supervision services, and operational training amounts to EUR 5.5 million. The project is…

Russia: Polyus gold output up in 2017

In 2017 Polyus increased gold output by 10% YoY, to 2.16 million ounces (67.2 tons) mostly because of the increase of production at Olimpiada and Verninskoye deposits. The company forecast the output on the level of 2.075-2.125 million ounces of gold. Sales grew by 13%, to 2.158 million ounces, including 170 thousand ounces of gold…

Azerbaijan: Dashkesan Filizsaflashdirma 99% shares to be sold again

The State Committee on Ownership Issues has for the fifth time announced an investment competition to sell 99.22% of Dashkesan Mining and Processing Works (Dashkesan Filizsaflashdirma). The committee intends to sell 527.447 thousand shares with the nominal price of 2 manats per share. The total cost of the 5-year investment program, which the competition participants…

Russia: Chukotka coal output up in 2017

In 2017 Chukotka Autonomous District mined 445.3 thousand tons of coal, up by 93% YoY.

The considerable increase was reached thanks to the commissioning of the Fandyushkinskoye pole deposits in December 2016.

The license is owned by Beringpromugol LLC. Last year the company mined 255.88 thousand tons of coal there. (Ukrainian metal)