Aktogay Mining and Processing Works will be expanded. In October the works has reached its project capacity at the sulfide enrichment factory, and the board of directors decided to construct another factory, which would double sulfide ore processing from 25 to 50 million tons per year. The expansion is the low-risk project. Investments are expected…
Roseximbank has opened a loan of 3.35 billion rubles for 2.5 years. The financing is carried out under the state program of supporting exports of highly technological products. Izhstal will spend the money to buy raw materials to manufacture products for exports to Europe and Kazakhstan through Mechel sales network. (Ukrainian metal)
Severstal has approved of the program to develop the Yakovlevsky mine in Belgorod region, which presupposes the increase of iron ore mining within several years. In 2018 the mine output will increase by 50% YoY, from 872 thousand tons to 1.315 million tons. The main goal of increasing output is to improve the company provision…
At the Extraordinary General Shareholder Meeting (EGM) held on December 22, NLMK shareholders approved payment of Q3 2017 dividends of RUB 5.13 per share. The date upon which the shareholders entitled to dividends would be determined was set as January 9, 2018. January-September 2017 dividends will amount to RUB 10.68 per share. At the meeting,…
Irshansk Mining and Processing Works has ordered Energy Trade Group LLC the delivery of natural gas valued at 71 million UAH. In 2018 the company will supply 7.1 million cubic meters of gas at 10 thousand UAH per 1 thousand cubic meters. The price is 13% below the expected cost of the purchase (81.65 million…
The supervisory board of Evraz Yuzhkoks has appointed Andrei Shabanov the CEO of the company. He is the ex-director of Donetskkoks and the scientific-manufacturing enterprise Inkor and Co, both part of Metinvest. The decision was taken at the board meeting on December 18. The previous CEO Denis Koshkarev has resigned. Shabanov has been hired for…
The American International Trade Commission has confirmed the information on damages inflicted by Russian, Belarus and UAE suppliers of wire rod. At the same time it has not found any critical conditions during the Russian export of wire rod to the US. Thus, the antidumping duty of 463.8-756.93% will be imposed on Russian wire rod,…
Kangalassky pit of Yakutugol has completed the annual mining program in advance. So far the output is exceeding the plan by 15%. And the miners intend to increase it even more. Most of the coal from the pit (some 70%) is sent to the housing and municipal enterprises of the central regions of the Republic…