Ukraine: metal output down in May 2017
In May industrial output in Ukraine increased by 1.2% YoY. According to the State Statistics Service, quarrying production decreased by 4.6%. Metal output dropped by 8%, coke – by 20.6%. (Ukrainian metal)
Russia: Hambro loses board of Petropavlovsk to investors
Peter Hambro has lost his bid to stop a major Russian investor from filleting the board of Petropavlovsk, the gold mining company he co-founded more than 20 years ago. Shareholders at the London-listed miner’s AGM voted 70% in favor of a resolution by Renova to oppose the reappointment of Hambro. They also voted down the…
Ukraine: scrap procurement to drop
This year scrap procurement will be lower than last year. “In 2016 Ukraine procured 3.471 million tons of scrap. It’s difficult to forecast anything for this year, but we believe that procurement will decrease”, Ukrmetallurgprom president Alexander Kalenkov said. Last year local market received 3.192 million tons of Ukrainian scrap. In January-May 2017 scrap deliveries…
Kazakhstan: EBRD supports inclusion through Kyzyl gold development
The EBRD is deepening its efforts to promote economic inclusion in the energy sector and the extractive industries of Kazakhstan with a $ 140 million loan to Bakyrchik Mining Venture LLP for the development of the Kyzyl gold deposit. The investment will create hundreds of jobs in eastern Kazakhstan and bring the highest international standards…
Kyrgyzstan: Sulukta coal deposit up for sale
Sulukta coal deposit was put up for auction, the State Committee of Industry, Energy and Subsoil Use of Kyrgyzstan reported. The starting price of plot No. 5 (mine shaft 2/8) is $3,800. According to the forecasts, coal reserves at the field are 381,190.5 tons. The local section Vostochniy (parts of mine shaft 6/18) was put…
Uzbekistan okays deal with EBRD to remediate uranium tailings
Uzbek President Shavkat Mirziyoyev by his decree has approved a framework agreement with the European Bank for Reconstruction and Development (EBRD) for implementation of the uranium tailings remediation program of the Environmental Remediation Account for Central Asia (ERA). The framework agreement was signed on March 16 in Tashkent during the visit of the EBRD delegation,…
Ukraine: local market scrap sales attractive
Attractiveness of scrap sales on the local market of Ukraine has increased. According to the acting CEO of Metinvest-Resource Dmitry Klopatovsky, this has to do with the implementation of the 30 euro per ton export duty and its proposed prolongation for two years. “And now metal makers pay more for scrap than abroad”, he stressed.…
Russia: Severstal and Power Machines to enhance CherMK power generation
Severstal (one of the world’s leading vertically integrated steel and mining companies) and PJSC Power Machines have concluded a contract for technical upgrade of a cogeneration plant – steam blower station turbogenerator No. 5 of the Cherepovets Iron and Steel Works (a part of Severstal Russian Steel division). The cost of the contract is more…