Russia: Krasniy Octyabr clears tax debts

Volgograd Iron and Steel Works Krasniy Octyabr has paid 424 million rubles of tax debts.

All the debts have been cleared in full.

The non-payment of taxes to the budget has been revealed during a tax service check.

The major part of the debt fell on the profit tax. (Ukrainian metal)

Russia: Chukotka gold and silver output down in January-July 2018

In January-July Chukotka Autonomous District yielded 13.49 tons of gold, down by 7% YoY.

12.57 tons accounted for ore gold, with alluvial gold at 930 kg, down by 7% and by 15% respectively.

Silver output decreased by 15%, to 64.44 tons. (Ukrainian metal)

Russia: Moscow supplier bankrupting KUMZ

Kamensk-Uralsky Iron and Steel Works has received a bankruptcy action for the debt of 753.6 thousand rubles.

The claimant is a Moscow company TD Trackt.

The Sverdlovsk arbitrary court is entertaining another action against KUMZ for the debt of 782.3 thousand rubles. (Ukrainian metal)

Russia: Priisk Dambuki net profit down in H1 2018

In January-June Priisk Dambuki, extracting alluvial gold in Amur region, received 83 thousand rubles of net profit, down almost 24-fold YoY (1.9 million rubles). The company revenue decreased 4-fold, to 23.5 million rubles. Gross profit fell 2-fold, to 17.9 million rubles. EBITDA increased 1.3-fold, to 339 thousand rubles. As of late June, the company accounts…

Russia: Cheboksary Works of Industrial Casting output up in H1 2018

In January-June Cheboksary Works of Industrial Casting manufactured 650 million rubles worth of metal, up almost 1.5-fold YoY. “In addition to the railroad castings we are also mastering the manufacture of new types of products for agriculture machine-building and car industry, as well as spare parts for crushing machinery, mining and quarry machines”, the company…

Russia: Usmanov yields MGOK shares to Sberbank

Sberbank Investments has concluded a deal with Mikhailovsky Mining and Processing Works, having received 10% of the enterprise shares as a partial clearing of debts.

The share of Lebedinsky GOK decreased to 89.32%. Through it USM Holdings of Alisher Usmanov controls MGOK.

USM Holdings also controls 100% of Metalloinvest shares. (Ukrainian metal)

Russia: Vorkutaugol coal output down in H1 2018

In January-June one of the largest coalmining companies of Russia – Vorkutaugol – decreased output by 10% YoY, to 4 million tons. The decrease is the result of the scheduled works at the Vorkutinskaya, Zapolyarnaya, Komsomolskaya and Vorgashorskaya mines. Metallurgic coal output grew 3-fold, to 80 thousand tons. Its reserves are situated at the Vorgashorskoye…