In January-March Uchaly Mining and Processing Works, a part of UMMC, received 560.8 million rubles of net profits, down 2-fold YoY. The company earnings dropped by 1.2%, to 5.4 billion rubles, while the product cost price increased by 20.7%, to 4.1 billion rubles. Uchaly GOK sells copper and zinc concentrates. The company accounts payable increased…
Kabardino-Balkaria will see the construction of a new hydrometallurgical works. According to the local Ministry of industry and trade, the works with the capacity of 4 thousand tons per year will process tungsten concentrates, as well as tungsten- and molybdenum-containing products. Chemically clean tungsten oxides will be supplied to the local market. The project will…
In 2017 Noginsk Pipe-Section Works started producing new pipes (electric-welded pipes of 55×55 and 110×110 mm), a new mill also was put into operation (for square pipes of 15×15 and 40×40 mm and rectangular pipes of 15×60 mm). As the result now the company is capable of producing pipes from 10×10 to 120×120 mm. At…
Additional revenue of the budget from the scrap export duty increase to 30 euro per ton exceeded 1 billion UAH. “One billion is a very pessimistic estimate of additional income of the budget. We believed that one ton of scrap processed and sold yields 7-8-fold more than just scrap”, Ukrmetallurgprom president Alexander Kalenkov said. According…
Ukraine’s Cabinet of Ministers decided to resume licensing of anthracite exports in 2017 in consultation with Ukraine’s Energy and Coal Industry Ministry to overcome crisis in the energy sector linked to termination of anthracite supplies from Ukrainian government uncontrolled territories of Donbas. “The resolution is intended to provide for a balance on domestic market, prevent…
An American working group on the issue of coal deliveries will arrive in Ukraine. “On May 23 the American group will come”, the minister of energy and coal industry Igor Nasalik declared. At the same time he noted that Ukraine would not be using anthracite coal in May and June. (Ukrainian metal)
Presidential envoy to the Siberian Federal District Sergei Menyailo has urgently departed for the Zabaikalsky region, where miners began a strike on May 18, a regional information center said in a statement. The Yugo-Zapadnaya gold mine, belonging to Darasunsky Rudnik, saw 81 workers refusing to leave the mine because of alleged wage arrears for April.…
In January-March TMK received $42 million of net profits, up 3-fold YoY. According to the company statement, its earnings went up by 24%, to $944 million. EBITDA grew by 15%, to $142 million. The company net debt as of March 31, was $2.64 billion. (Ukrainian metal)