Russia: Primorzoloto to construct gold-extracting factory in the Far East

Within the Freeport of Vladivostok project, Primorzoloto plans to construct a gold-extracting factory.

Investor intends to construct two quarries.

Gold-bearing ore will be delivered to the factory with the capacity of 500 thousand tons of ore per year.

It is expected to obtain 64.5 tons of gold under the project. (Ukrainian metal)

Russia: Severstal gets IATF 16949 certificate

Severstal was one of the first Russian companies to confirm the correspondence of its quality management system to the IATF 16949 standard. The DQS experts have checked Cherepovets Iron and Steel Works facilities. “The presence of the certified quality system is a must in relations with automobile manufacturers both in Russia and abroad”, Severstal Russian…

Russia: MMK on pipes market

In 2017 MMK sold 3.22 million tons of hot-rolled metal, with some 60% supplied to Russian pipe companies. According to MMK senior region sales manager Andrei Golitsyn, the main customers are Seversky Pipe Works, Uraltrubprom and Almetyevsky Pipe Works. Last year Ural Federal District accounted for around 55% of all sales, with Privolzhsky for 30%…

Ukraine: Russia-manipulated terrorists trying to resume operation at Yenakievo Works

Russia, which controls its own terrorist organization of the Donetsk People’s Republic, has started restoring machinery at Yenakievo Iron and Steel Works, burned down by the militants in early April. “The rare and expensive machinery is slowly being restored, the manufacturing process is going on. Thanks to the Russian specialists and enormous sums of money…

Ukraine: Metinvest GOKs to pay 4.86 billion UAH of dividends

Shareholders of Ingulets Mining and Processing Works, Central Mining and Processing Works and Severniy Mining and Processing Works (all parts of Metinvest) at their meetings on May 18 decided to pay dividends for 2017 in the total of 4.86 billion UAH. In particular, InGOK will spend 2.16 billion UAH to pay dividends, and leave 2.6…

Russia: Vysochaishiy profit up in Q1 2018

In January-March Vysochaishiy received 3.207 billion rubles of revenue, up by 52% YoY.

Sales profit reached 1.419 billion rubles, up 2-fold YoY. Net profit increased by 41%, to 1.005 billion rubles.

As of March 31, the company accounts receivable totaled 1.132 billion rubles. (Ukrainian metal)

Russia: KAP extracts 50 kg of gold

Since the start of the year Kanchalan-Amguem Area LLC (KAP) has extracted 50.2 kg of gold at the Gorny site in Chukotka. Silver output totaled 225 kg. By the end of Q2 the company intends to have mined 505 kg of gold. The company started operating at the site in January. Its resources are estimated…

Russia: VSMPO-Avisma profit down in Q1 2018

In January-March VSMPO-Avisma received 18.033 billion rubles of revenue, up by 1% YoY.

Net profit dropped by 20%, to 4.069 billion rubles, mostly because of the strengthening of the Russian ruble exchange rate as to Q1 2017.

Last year the group net profit decreased 2-fold YoY, to 12.8 billion rubles. (Ukrainian metal)