The RusHydro board of directors has preliminary approved of the results of its participation in the construction of the Taishet Aluminum Smelter together with Rusal. RusHydro has estimated the cost of a 50% stake in the project at $388 million (22.5 billion rubles). Another aspect of the company participation in construction is Rusal confirmation of…
Rusolovo, the only tin-mining company in Russia, in January-August produced 511 tons of tin concentrate, up by 70% from the historical maximum of 300 tons, reached by the company in 2015. “The considerable increase of the tin output is the result of the consecutive investments into restoration and development of capacities”, the company CEO Evgeniy…
NLMK is planning to start a road show with dollar-nominated eurobonds in USA and Europe on September 6. Meetings with investors will be held in London, Zurich, New York and Boston. J.P. Morgan, SG CIB, ING and UniCredit will act as organizers. Depending on the market situation NLMK intends to offer mid-term bonds to investors.…
The European Bank fro Reconstruction and Development intends to lend ArcelorMittal Kriviy Rih 200 million euro. The total amount of the loan could reach 350 million euro, with 150 million provided with the help of other institutions. The loan will be used to support the AMKR investment program valued at $1.1 billion. (Ukrainian metal)
In January-August Ukraine produced 13.826 million tons of steel, down by 16% YoY. Rolled metal output decreased by 18%, to 11.806 million tons, pig iron – by 20%, to 12.772 million tons. At the same time pipe manufacture grew by 28%, to 691 thousand tons, while that of coke dropped by 21%, to 6.859 million…
The Ministry of energy and coal industry will find financial resources – some 1 billion UAH – to pay salary to miners and clear 2017 debts. According to the miners union, the primary goal of the ministry and the government is to pay salary to miners in full, as well as clear all the debts…
The Russian Environment Surveillance Service in Magadan region wants to annul the license to use subsoil resources given to Reserv LLC to operate at the Utinskoye deposits. According to the service the company has not started constructing infrastructure objects, nor has it prepared the mining object to be put into operation. The company director Victor…
Zaporozhye Aluminum Works has recalled its employees from the forced vacation, which started on August 17-18. Still the company is not producing aluminum wire rod because of the absence of raw materials (primary aluminum). “We were not producing wire rod in Q2 and Q3 because of two reasons: there were still products at the warehouse,…
