The state enterprise “Skhidnyi Mining and Processing Plant” continues to work on optimizing expenses, reorganizing the structure of the enterprise and preparing it for corporatization. Thus, over the past four months, as a result of optimization, increasing the transparency and competitiveness of procurement, SkhidGOK managed to save over 32 million hryvnias – this is the…
Uzbekistan’s Uzmetkombinat and global financial institution Citi have signed a memorandum of understanding (MoU) to expand cooperation in international debt capital markets. The document was signed following a meeting in New York on July 24 attended by Uzmetkombinat Chairman and Chief Executive Officer Bakhodir Abdullayev, Deputy Chairman for Finance, Economics and Transformation Hasan Khaydarov, and…
In January-May, Kyrgyzstan’s coal trade showed growth in export potential and a gradual decline in dependence on imports, data from the National Statistical Committee said. Exports of hard coal from Kyrgyzstan exceeded 522,938.6 tons in the first five months of 2026, up by 11.2% YoY. Revenue from exports reached 2,164,955.7 billion soms ($24,757.8 million), up…
First Deputy Prime Minister of Ukraine – Minister of Energy of Ukraine Denys Shmyhal visited one of the mines in the Dnipropetrovsk region, where at a depth of 480 meters he met with miners who, despite constant Russian shelling and danger, continued to go underground and do their work. The mine was also visited by…
A delegation from Baosteel Europe GmbH visited Uzbekistan’s Uzmetkombinat for working talks on expanding cooperation, implementing investment projects and introducing modern technologies in the metallurgical sector. During the visit, the delegation toured the company’s production facilities, including its casting and rolling complex. The parties discussed expanding mutually beneficial trade and economic cooperation, exchanging expertise and…
International rating agency Fitch Ratings has downgraded the long-term Issuer Default Rating (IDR) of JSC Uzbek Metallurgical Plant (UMK) to “B” from “B+”. The rating outlook remains Positive. The agency attributed the decision to a slower-than-expected ramp-up of the new flat-rolled steel production complex to its design capacity. According to Fitch, reaching planned targets will…
From January 2022 to June 2026, Kumtor Gold Company CJSC transferred $1,233,216 billion in taxes and other mandatory payments to the budget of the Kyrgyz Republic. The company’s revenue for this reporting period amounted to $4,991,956 billion, with net profit over the 4.5 years amounting to $2,196,678 billion. Dividends totaling $741,298 million were paid to…
The First Deputy Prime Minister of Ukraine – Minister of Energy of Ukraine Denys Shmyhal, as part of a working trip to the Dnipropetrovsk region, together with the head of the Regional Military Administration Oleksandr Ganzhea, visited one of the mines in the region. During the working visit, they discussed current issues and urgent needs…