Chinese investment company Fosun intends to acquire 20-25% in Russian gold producer Polyus for $2 billion, according to the materials of the Russian-Chinese investment commission. Fosun will represent a consortium of Chinese companies in a deal with Polyus’s parent company Polyus Gold. “The parties have come to an agreement on the main transaction terms, they…
Ukrainian Prime Minister Volodymyr Groysman has instructed the Energy and Coal Industry Ministry of Ukraine to draft a strategy in the coal sector by April 26. “On April 26, at a government meeting we are to discuss the strategy for the coal production sector. This must be a fundamental work. This must be your road…
Metinvest, a Ukrainian steel and mining group, began diversifying raw material supplies in 2014 considering the risks for assets in uncontrolled areas of Donbas. “We considered various plans of action in case given risks were realized. We’ve been working on this since 2014. Therefore, even then we began to diversify our supplies of raw materials…
Energomashspetsstal has concluded another agreement with Ingulets Mining and Processing Works. The companies have been cooperating for over 10 years, The new contract presupposes the delivery of 17 parts for mining equipment with the total weight of 420 tons. Gear rings, trunnions, nozzles, etc. will be delivered to the customer in July-September. Last month EMSS…
In March Dneprospetsstal produced 21616 tons of steel and 14429 tons of rolled metal, up by 8.4% and by 9% MoM respectively. According to the company statement, the total cost of products manufactured in March reached 681.211 million UAH, up by 12.9% MoM. In Q1 DSS produced 61839 tons of steel and 41877 tons of…
Ukraine has cut off both electricity lines that fed Moldova Iron and Steel Works, according to the Transnistria minister of industry and regional development Nikolai Gliga. According to Ukrenergo power company both lines will have to be repaired. “These lines are used to feed the works in the smelting mode”, the minister noted. He says…
In January-February the share of metal and metal wares in the imports from foreign countries totaled 5.4% (5.6% in January-February 2015). According to the Federal Customs Service, the cost of the products increased by 23.5% YoY, and their volume – by 30.3%. Imports of ferrous metals and wares increased by 35.3%, while pipe deliveries dropped…
In January-March Beloretsk Iron and Steel Works, a part of Mechel, increased sales of metal wares with high added value. The highest rise was in rebars for construction (by 32% YoY). Sales of steel wire increased by 24%, of bearings – by 17%, of steel ropes – by 9%. “The increase in sales has to…